As cynical as it seems in the face of the tragedy and suffering left in the wake of super storm Sandy, analysts in many industries were immediately projecting increased business in the same wake.
For automakers, the storm surge from Sandy was 20,000 to 30,000 new sales in November bought to replace cars lost in the flood! With total strom loss estimates running as high as 400,000 total vehicles, December sales will continue to crest on the same wave.
The rest of 2012 has been enormous for the auto industry — with purchases long delayed due to economic uncertainty — creating a steady pent-up demand for new cars and trucks. The November annualized sales rate of 15.5 million vehicles is really astounding and encouraging especially since discounting and financing incentives are not driving the increases!
The biggest gainer in November was Honda — up 38.9 percent on the strength of a classy new Accord and the popular CRV crossover utility. BMW sales were up 38.7 percent for the month — possibly on the strength of holiday sales. With a base price of about $36,000 — a brand new BMW 3 series makes an eye-opening Christmas Gift!