Used Cars Houston Under 2000 – The Houstonians bought 70,914 vehicles used in July, up 9,800 vehicles from the previous month, according to the TexAuto Facts report from InfoNation Sugar Land. About two-thirds of used cars sold in July came from 2015-2018 models. The most popular used car brands in Houston are Ford, Chevy, Toyota, Nissan and Honda, according to the latest monthly report.
Houstonians flocked to many used cars as prices of new vehicles have risen in recent years as manufacturers have added new security and technology features. The average retail price of new cars sold in Houston was $ 36,294 in July; the average price is $ 33,000.
Used Cars Houston Under 2000
“The price of new cars and trucks is higher than before,” said Tony Gullo, who owns several dealers in Montgomery County. “Every new model that comes, they put more trinkets as standard equipment. I think people are looking for cars that year or two to save a little money. ”
Used cars have become more popular among cost-conscious consumers because of the quality of modern vehicles and increased long-term financing allows the Houstonians to drive their cars longer.
The average age of cars in the Hosuton area last year was 9 years, up from 7.3 years in 2000, according to TexAuto Facts. On average, Americans drive their cars for 11 years.
“It used to be a few years ago, if you had more than 100,000 miles of vehicles, they didn’t want to touch them,” Gullo said. “But these days, people are not afraid of vehicles with 150,000 miles to them if the car has been properly maintained and has only a few owners.”
Used vehicles are a big cost savings, said Gullo, who led the Houston Auto Show for 35 years. A used pickup truck that is several years old can easily cost half the price of a new one, he said.
New car sales are still rising in Houston, but are increasing more slowly. Local dealers sold 24,200 new vehicles in July, up 5.1 percent from June and up 2.7 percent from a year ago.
The Houstonians have bought 170,797 new vehicles so far this year, up 5.4 percent this year from a year ago.
Automotive industry analysts predict slower sales of new cars for the rest of the year amid rising popularity of used cars and rising manufacturing costs due to tariffs on imported steel and aluminum. Tariffs submitted on foreign cars continue to be a concern for the automotive industry, InfoNation said in its report.
Dealers adapt to consumer tastes that change in cars.
Group 1 Automotive, the third largest group of dealers in America headquartered in Houston, earlier this year invested $ 3 million to launch the Val-U-Line, an older branded track, a high-mileage vehicle that was sent to the auction in the past. but it is now reconditioned and sold at dealers.
The emphasis on used vehicle sales paid off in July, when Group 1 posted a record profit amid an 11 percent rise in used car sales in the US. Used cars now represent 10 percent of the company’s business, up from 4 percent historically.
Group 1 sold 28,484 used vehicles in the US during the second quarter with an average retail price of $ 20,784. Revenues from sales of used vehicles globally rose by almost 20 percent, compared to the same period last year.
Shifting consumer preferences towards used cars can benefit dealers, who can achieve higher profit margins in used cars compared to new cars, Gullo said.
“This is good for dealers,” Gullo said. “If you don’t sell used cars, you lose the boat.”
Pictures gallery of Used Cars Houston Under 2000, Houston hits the gas on used car sales
DISCLAIMER: This image is provided only for personal use. If you found any images copyrighted to yours, please contact us and we will remove it. We don't intend to display any copyright protected images.