The Freeman Auto Report found that new car sales in the greater Austin area increased 10% in 2010 compared to 2009. This is still far off pace from new car sales in 2007, when over 100,000 new cars were sold in Austin according to the article “Texas New Car Sales Increase in 2010″ on USInsuranceonline.com.
General Manager of Jaguar Land Rover Austin said in an interview with the Austin American-Statesman that this is a good sign and that 2011 will be a good year for everyone. The economy is slowly picking up and this is definitely affecting new car sales as well as car insurance quotes in Texas.
The Texas Department of Insurance says the market has recently added 9 new providers which could make prices more competitive for Texas auto insurance rates. This is just in time since minimum liability rates just increased causing overall premiums to increase. With more providers in the market, hopefully they will compete for consumer business making rates stay flat or even decrease.
Texas is not the only state to feel the economy creep back through car sales and car insurance policies. At this point there may be a light at the end of the tunnel for the economic slump that’s been keeping us down for the past few years.