Auto Sales To Rise Thanks To Harvey


The L.A. Times is reporting that between 300,000 and 500,000 vehicles were destroyed or damaged in Houston, according to Cox Automotive economist Jonathan Smoke and he said that translates into $2.7 billion and $4.9 billion. Between 60% and 70% of those vehicles being replaced will be used. Auto sales were expected to increase slightly in August compared with a year ago, but analysts say lower sales in Houston could kill the gains. The Times reports that Harvey likely cut sales of new cars and trucks by 1.3%, or 20,000 vehicles in August. Houston is the ninth-largest vehicle market in the nation.


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