Hurricane Sandy Could Claim 200,000 Vehicles

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Hurricane Sandy continues to have a devastating human cost for victims along the eastern seaboard, but a notable portion of the estimated $20 billion in physical damages has been automotive.

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While Fisker gained unwanted publicity after 338 of their sedans burned to the ground due to the storm's salt water shorting their batteries, the bigger financial story lies in the estimated 200,000 vehicles that will be written off due to water damage. Approximately 15,000 cars constitute new, unsold stock that will be scrapped by manufacturers, with the difference accounted for by private parties. Needless to say, not all vehicles in question will be dealt with scrupulously; an untold number of water-damaged vehicles will inevitably flood the market, so to speak, causing potential safety and health issues for occupants down the line.

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While 200,000 vehicles is certainly an arresting number, even more glaring is the estimate from Hurricane Katrina. According Larry Dixon, senior analyst from the National Automobile Dealers Association, the 2005 storm that ravaged the southeast was responsible for destroying approximately 600,000 cars and trucks.

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Source: Bloomberg

Source: http://www.popularmechanics.com/cars/news/auto-blog/hurricane-sandys-automotive-cost-could-top-200000-vehicles?src=rss

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