12/12/2012 - Automakers may lose quarter of a million cars to Sandy
While a considerable number of auto insurance
claims were filed following Hurricane Sandy, many of the cars that were damaged had yet to be purchased, potentially resulting in major losses for automakers.
Initially reported by Reuters, approximately 250,000 new and used cars were adversely affected following Sandy, forcing many of them to be scrapped as a result.
Should that number hold, it would be 75,000 fewer vehicles that were rendered useless following Hurricane Katrina. However, two of the nation's leading automakers - General Motors and Ford Motor Co. - had yet to announce how many vehicles they had lost because of Sandy as of mid-November.
Mark Schienberg, president of the Greater New York Automobile Dealers Association, told the news source that auto sales are the last thing on people's minds given the destruction that Sandy wrought.
However, several automakers say they will provide special discounts to those who were affected by Sandy so that victims can recover more quickly.