The Hurricane Sandy has wrecked havoc at the US East Coast and an ominous remnant negative threat looms over the entire global automotive sector. The automotive industry is under a cloud of billions in lost revenues, as the inventories at their warehouses have been totalled, while those at the retail outlets have been damaged beyond repair.
The Hurricane Sandy started out on October 22, 2012, and went ferocious for straight three days between October 29 and 31, thereby affecting most of the Caribbean, Mid-Atlantic and Northeastern provinces of United States. Dubbed as Atlantic's largest ever recorded hurricane, Sandy also had lesser impacts in the Midwestern and Southeastern American states along with eastern part of Canada.
In a statement David Hyatt, Vice President, Public Affairs, National Automobile Dealers Association (NADA), said, “From what we do know, the impact on the auto industry will be severe. Widespread power outages are hampering communications between dealers and their employees. Depending on locations along the East Coast, power is not expected to be restored for several days to a week or longer.”
As per Mark Schienberg, President, Greater New York Automobile Dealers Association, Hurricane Sandy has afflicted each of the organisation's 425 vehicle outlets in 9 New York counties, including the five precincts of New York. Regarding the kind of impact the natural disaster had incurred on the auto sector, Schienberg said, “It’s amazing how much devastation. Just extraordinary.”
Reportedly, the American automotive giant General Motors has declared an assistance program for its clients and people affected by the Hurricane Sandy. As per the refurbishing initiative, people who have lost their vehicles will be entitled to receive an additional $ 500 discount on new cars purchased or leased by the end of year.
