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Car Sales Lost To Hurricane Sandy Will Return

Nov 30, 2012 estimates that Hurricane Sandy’s impact on New Jersey and other surrounding states cost 30,000 vehicle sales in October. Even if dealers were open for business, many of their potential buyers were either without power or dealing with cleanup and other storm-related issues.The “lost” sales aren’t gone for good however. Those who were looking to purchase a new vehicle before the storm will likely return. expects the sales will be made up in coming months, and additional sales could result as storm victims replace their vehicles damaged or destroyed by the hurricane.Hurricane Sandy struck one of the biggest car-buying regions at the worst time of the month possible. Typically, 30% of all sales across the U.S. occur in the closing days of a month, and about 20% of all U.S. car sales come from Mid-Atlantic and New York/New Jersey region.A storm-induced sales bump combined with increased lease terminations, growing consumer confidence and a recovering housing market are contributing to a positive outlook for fourth-quarter car sales. is forecasting full-year 2012 light vehicle sales will total about 14.3 million vehicles.