Houston Auto Market News Q2 – 2023
September 26, 2023Marshall Center for Advanced Careers Triumphs as Winners of the Houston Student Automotive Tech Competition
October 31, 2023Navigating the Curvy Road Ahead by Joe Chastang, Chastang Ford
As we find ourselves midway through 2023, it’s time to take stock of where we stand in the ever-evolving automotive industry landscape. After a thunderous first quarter, the vehicle market in Houston appears to be finding its equilibrium, albeit with a few twists and turns along the way.
Total sales have continued to sizzle in the second quarter, driven by robust fleet sales. This positive momentum speaks to the resilience and adaptability of our industry. Our business remains strong despite facing challenges such as high-interest rates and the UAW strike. As the saying goes, “Tough times don’t last; tough people do.” Domestic brands may feel some unease, but strikes, like storms, eventually pass.
Change is a constant in our industry. Whether it’s technological innovations, fluctuations in interest rates, inventory challenges, strikes, or economic downturns, we have weathered it all and emerged victorious. Dealership owners have an innate aptitude for adaptability, and we thrive in the face of adversity.
Having recently convened with dealers from across the state at a TADA board meeting, I was prepared for a sense of apprehension about the current state of the industry. However, the bigger picture reveals a mostly positive outlook among our peers. Change, after all, often breeds opportunity. Moreover, we’ve witnessed numerous dealerships changing hands at high prices, reaffirming that the dealership model remains profitable.
We, as dealers, are known for our optimism, but it’s an optimism anchored in caution. The Lone Star State’s population continues to surge, promising a new customer base for our businesses. This growth keeps our spirits high and our aspirations even higher.
In other encouraging news, it’s heartening to see young students increasingly show interest in the automotive industry. According to the National Student Clearinghouse, enrollment in mechanic and repair trade programs surged by 11.5 percent from spring 2021 to 2022. This statistic only amplifies my enthusiasm for our upcoming student technician competition on October 13 at San Jacinto College. These ten local Houston high schools competing are the future employees of our dealerships, and their passion and dedication inspire confidence in our industry’s future.
As we progress, I encourage you to explore the rest of our newsletter for information on upcoming scholarship applications, a remarkable milestone achieved by the Motorist Assistance Program, and exciting developments at the Houston Auto Show.
In conclusion, I remain passionate about the future of dealerships and the outstanding products each of us offers. In the words of the great Zig Ziglar, “You don’t have to be great to start, but you have to start to be great.” Let’s continue to drive forward, embracing change and challenges with the same tenacity that has defined our industry for generations.
Thank you for your unwavering commitment and dedication to the Houston Automobile Dealers Association. Together, we will continue to thrive and shape the future of the automotive world.
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