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.
