East Texas car sales gives insight into economy

East Texas car sales gives insight into economy

LUFKIN, TX (KTRE) - According to the "Wall Street Journal Market Watch," July car sales reached an eight-year high.

For July alone, data showed that in just one year, sales have increased 10-percent across the board. Car sales are one of the important economic yardsticks as far as growth is concerned.

Things may look great across the U.S., but what about in Angelina County. According to the Texas Department of Motor Vehicles, dealership titles actually dropped since July 2013 in the Lufkin area.

East Texas News took this data to a local dealership, Loving Toyota to see what this means.

"We need more cars," said Devin White, sales manager of Loving Toyota. "In the last couple of years, we have nearly doubled our sales in the month of July."

White further explained that sales have increased over a hundred from last July, despite what Texas records show. White said he is seeing more people with disposable income come through the door compared to past years.

"More jobs mean more people being employed with more money to spend," White said.

Big purchases such as cars and houses means people have money to spend ,which in translation, means the economy is on an upward swing.

"When the economy is tight, people don't go out and buy cars. They keep the cars they have and make them last longer," White said.

White said car sales and the type of vehicle people purchase can really say a lot about the local economy. When the recession hit a couple of years hit people were downsizing.

"People are no longer coming in and trying to downsize their vehicle," White said.

Copyright 2014 KTRE. All rights reserved.