Auto industry is on a roll

Written by admin   // January 4, 2013   // 0 Comments

While waiting for an oil change, Gary Wood couldn’t resist a little new car window shopping. But, he’s not in the market: he’s already bought three new vehicles in the past three years!

“Raising taxes didn’t do anything,” says a laughing Wood, peering into new car windows at Huffines Dodge in Plano, “So just keep spending money!”

Wood’s new rides are part of a nationwide sales surge that’s given U.S. automakers their best performance in the past five years.

“Every year has been better than the previous year, since ’09,” says Ray Huffines, owner of Huffines Auto Group. “And now from ’09 to 2012, we’re up 64% in new car sales.”

And Huffines admits that rising consumer confidence has only helped encourage those healthy sales numbers.

“I think it says something about the economy and people’s feelings about the economy in North Texas,” says Huffines, “because they feel good about the future.”

Along with consumer confidence, hiring, new home sales and home prices are all enjoying increases. And economists say all of those factors encourage big ticket purchases.–Article courtesy of CBS-Dallas


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