Due to Superstorm Sandy, U.
S Car sales have fallen far shorter than expected for the October Month, however industry executives have high hopes for the housing market.
Although General Motors and Chrysler Group both declared their strongest sales for October since the 2007-09 Financial Crisis, the huge Superstorm has taken as many as 30,000 vehicle sales out of the picture.
The storm has clearly had a larger impact than car dealerships originally anticipated.
However, although it is not the perfect month, apparently the sales remain at a steady rate.
Ford's sales went up by 0.
4% whilst Toyota's rose by 16% and Honda by 9%, Nissan sales unfortunately feel by 3.
2%.
General motors rose by 4.
7% and Chrysler increased by 10%.
However the overall sales came in way below the expectations by all the major vehicle makers.
This sets the U.
S Car industry to fail in reaching it's 14.
9,000,000 annual vehicle sales rate that had been predicted almost a month before.
However executives believe that these amounts lost due to the Superstorm will be returned if they continue to have an exemplary November and December as expected.
Some automobile makers such as General Motors, Toyota and Nissan are offering discounts and deals to customers in areas that have been affected by the storm, especially those that may have lost vehicles due to the extreme weather conditions.
Apparently Sandy has affected the Annual Auto Sales by at least 300,000 Vehicles.
As our own country seems to be following in the same direction, although not as drastic, with the flood threats and the already flooded areas of Britain, lets hope that our weather doesn't have such a horrific affect on our countries economy.
Especially when it comes to vehicles, with one man even dying in his car in Somerset, it is not likely that people are going to be purchasing new vehicles anytime soon.
However, with people probably claiming a lot on their insurance due to water damage with regards to their vehicles, other businesses such as mechanics and garages, may start to see advantages.
Whatever happens with our weather the most important thing is to be safe and to try and ensure that our homes, cars and belongings survive the unusual conditions.
However if such a thing is to happen to your car, you would be in a much better position if you were insured by Gap Insurance.
Although your motor insurance will pay you the amount your car was worth on the day it was destroyed and written off, you may still have outstanding amounts owed to your finance company, or may need a higher amount to be able to buy your same car again, or have the invoice price returned.
Gap insurance is the only way this is possible, by filling in the gap from the amount your motor insurer rewards and the amount you still owe/need to bring your invoice price back to what it was when you drove away from the showroom.
With a high risk of flooding in many areas and threats of extreme weather conditions, with proof of people already losing their property, please ensure you do not put yourself at risk and insure yourself thoroughly.