DALLAS — High above the state fairgrounds — 55 feet high to be exact — stands Big Tex, the official greeter of the three-week State Fair of Texas, which kicks off Friday.
But nearby are the unofficial greeters of the fair: gleaming pickups hoisted high into the air to attract truck-crazy Texans to all that’s new under the sun. And it’s not all trucks: The fair houses the largest new-car auto show in the Southwest overall.
This year, things are looking brighter for Texas’ auto market as parts of the state hardest hit by low oil prices and natural disasters start the long road to recovery.
Early signs out of Houston and southeast Texas point not only to a quick rebound in sales of new and used cars, but also to an upward trend in coming months as residents replace hundreds of thousands of vehicles damaged by Hurricane Harvey and the resulting flooding.
Steven Wolf, chairman of the Houston Automobile Dealers Association, said there has been a big spike in customers streaming into dealerships after quick settlements with their insurance companies.
They are mostly looking for pickups and utility vehicles, since that’s about 70 percent of the market in Houston, said Wolf, dealer principal at two stores in the Helfman Motor Sales group.
“In our stores, there’s a lot of push for Jeeps, pickup trucks, F-150s, Explorers, Expeditions, Escapes,” he said. Some of the most popular Jeep and Ram trims are in short supply, but dealers in other parts of the country are forgoing inventory so that it can go straight to Houston.
Cooperation between lenders and insurance companies has sped up the process, with flood-damaged cars quickly being declared total losses so that titles are cleared and customers qualify for new loans.
“I’m surprised at how well the insurance companies and banks are working together,” Wolf said. “But remember, in Houston, Texas, we don’t have a tremendous amount of mass transportation, so people need to get a car so they get back to work and get their lives back to normal.”
The Federal Reserve Bank of Dallas said this week that the medium-term outlook for the region is positive since Houston and the Gulf Coast are expected to recover quickly.
About 250,000 single-family homes were impacted by the storm, according to data from the Texas Department of Public Safety, and the Insurance Institute of Dallas estimated that damaged to homes and vehicles topped $20 billion.
Steve McDowell, owner of InfoNation, which compiles registration figures for the TexAuto Facts report, said a lot of the replacement cars will come from the used market since a sizable part of the affected Houston community can’t afford a new car and may have other damage-related expenses.
McDowell said title records for flood-damaged and junked cars haven’t jumped yet, but that’s likely to change as insurers work through a huge backlog of claims.
He thinks estimates of half a million to a million damaged vehicles are way too high, and puts the number closer to 300,000.
Have an opinion about this story? Click here to submit a Letter to the Editor, and we may publish it in print.
ATTENTION COMMENTERS: Over the last few months, Automotive News has monitored a significant increase in the number of personal attacks and abusive comments on our site. We encourage our readers to voice their opinions and argue their points. We expect disagreement. We do not expect our readers to turn on each other. We will be aggressively deleting all comments that personally attack another poster, or an article author, even if the comment is otherwise a well-argued observation. If we see repeated behavior, we will ban the commenter. Please help us maintain a civil level of discourse.
How I Successfuly Organized My Very Own Texan Buick Gmc | texan buick gmc – texan buick gmc
| Pleasant to help the blog, with this period We’ll provide you with regarding keyword. And today, this is actually the initial picture:
What about graphic previously mentioned? will be of which awesome???. if you’re more dedicated therefore, I’l d teach you several image again down below:
So, if you’d like to acquire all of these incredible pictures about (How I Successfuly Organized My Very Own Texan Buick Gmc | texan buick gmc), click save link to download the pics in your pc. There’re available for transfer, if you’d prefer and want to grab it, simply click save badge on the post, and it’ll be immediately downloaded to your computer.} Lastly if you wish to grab unique and recent photo related with (How I Successfuly Organized My Very Own Texan Buick Gmc | texan buick gmc), please follow us on google plus or bookmark the site, we attempt our best to present you regular update with fresh and new pics. We do hope you like staying here. For some up-dates and latest information about (How I Successfuly Organized My Very Own Texan Buick Gmc | texan buick gmc) photos, please kindly follow us on twitter, path, Instagram and google plus, or you mark this page on bookmark area, We try to give you update periodically with all new and fresh graphics, love your surfing, and find the ideal for you.
Here you are at our website, articleabove (How I Successfuly Organized My Very Own Texan Buick Gmc | texan buick gmc) published . At this time we are excited to declare that we have discovered an incrediblyinteresting contentto be reviewed, that is (How I Successfuly Organized My Very Own Texan Buick Gmc | texan buick gmc) Some people trying to find information about(How I Successfuly Organized My Very Own Texan Buick Gmc | texan buick gmc) and definitely one of these is you, is not it?