Monthly Update: Vehicle Sales

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Houston-area dealers sold 360,975 cars, trucks, and SUVs in the 12 months ending February ’24, a 14.0 percent increase over the 316,737 sold over the comparable period in ‘23, according to TexAuto Facts, published by InfoNation, Inc. Car sales are up 12.9 percent, truck and SUV sales, 14.3 percent.

There was an increase in vehicle sales over the 12 months ending in February '24, with notable jumps in both car and truck/SUV transactions.

However, average retail prices for new vehicles slipped compared to the last year, with new car prices falling more than trucks/SUV prices. 

• The average retail price for a new vehicle was $51,329 in February, down 1.8 percent from $52,284 in February ’23. 
• The average price for a new car was $40,801, down 5.0 percent from $42,938 in February ’23. 
• The average price for a new truck/SUV was $54,348, down 0.9 percent from $54,841 in February ’23. 

Trucks and SUVs accounted for 77.7 percent of all new vehicles sold in February and cars for 22.3 percent.

Prepared by Greater Houston Partnership Research 

Patrick Jankowski, CERP
Chief Economist
Senior Vice President, Research
pjankowski@sorizu.net

Leta Wauson
Research Director
lwauson@sorizu.net