Executive Automotive Analyst
NADA Used Car Guide
NADA Used Car Guide thinks vehicles up to eight-years-old will see prices increase 0.5% to 1.5% as a result of Hurricane Sandy, which destroyed thousands of vehicles. The loss of supply and increase in replacement demand will have most of its impact on prices in December.
Forecasted Injured Losses from Sandy Should be between $10B and $20B:
Insured loss cost of Hurricane Katrina was $46.5B, and the total cost was $145B.
Reduction in UV Supply and Increase in Demand from Hurricane Katrina:
Led to UV prices increasing as much as 3% or $309 over 4 month period following storm’s landfall.
Estimates Say Insured and Total Losses 1/3 Cost of Hurricane Katrina:
Hurricane Sandy most severe in New York and New Jersey, supply and demand disruptions especially severe in these states.