Posted on 11/08/2012 5:02:02 PM PST by nascarnation
Superstorm Sandy left about a quarter million dead cars in its path, Reuters figures. It mioght even drive up cars sales.
There is no official number yet on how many cars have been destroyed in the storm. “We believe that between 100,000 and 250,000 vehicles currently in operation could be removed from used vehicle supply once all is said and done,” said Laurence E. Dixon III, senior analyst with the National Automobile Dealers Association. Reuters think it is at least 266,000 vehicles.
Some consumers with damaged vehicles may need to replace them with a new car, said Mark Schienberg, president of the Greater New York Automobile Dealers Association.
You’ll be amazed what an insurance company would do to save a buck. Plus shops will convince ins companies it can be fixed to get the business .
Had a car hit by an 18 wheeler with no headlights . $15k car cost $8K to fix plus $7k extra. If totaled shop woulda got nothing.
Given the demographic, I’m guessing the benefits will mostly accrue to Germany (BMW/MB) and Japan (Lexus).
Cash for Clunkers Redux?
If the insurance company gets the car in a claim settlement but other than that????? I'm not so sure.
Viva la mexico!!!!!!!!!!!
Right before the storm I decided to list my Chevy HHR on ebay classifieds in the NYC area, but not because I was realizing the potential storm impact on the used car market. I just happened to find a larger car I had to have. But wow, maybe I’ll actually sell this little pugger? Any storm-thrashed Freeper would get a generous discount, naturally.
If there is even a remote possibility that the airbags or firing systems for them won’t go off in the future due to flooding, the ins co will total it. Not worth the liability.
Good point
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