After Hurricane Harvey, U.S. carmakers has reported mixed sales results but Nissan had the most leading declines. Their deliveries dropped 13% which missed analysts’ average estimate of 0.6%. Other companies such as Honda Motor Co., Ford Motor Co., and Fiat Chrysler Automobiles NV showed fallen sales while Toyota Motor Corp. and General Motors Co. gained sales.
The city of Houston is a top 10 market for new vehicle purchases and lost almost a week of selling days due to heavy rain and flooding from the hurricane. The metro area ranks 8th nationwide in registered vehicles with 5.6 million in operation and accounts for about 2.3% of U.S. new vehicle sales. Houston has lost about 300,000-500,000 cars and trucks with more than 325,000 vehicles lost that were sold in the region during the previous year. This marks way more that was lost compared to New York’s Hurricane Sandy in 2012 with 250,000 vehicles. The industry’s annualized selling rate may have dropped to 16.4 million vehicles in August from 17.2 million a year earlier.
Only Honda, Toyota, and GM are expected to report an increase in August sales with Volkswagen AG reporting a rise in combined sales as well with their VW and Audi brands.