A half-million flooded cars and trucks could be scrapped after Harvey

Source: https://www.cnbc.com/2017/08/29/a-half-million-flooded-cars-
Published: Aug 29, 2017
Author: P. LeBeau
Post Date: 2017-08-29 20:54:33 by XDMAR
Views: 1165

They seem to be in almost every picture or video of flooded neighborhoods in and around Houston.

There are scores of cars and trucks with water up to their windows and in some cases over the hood and roof.

In fact, the flooding is so extensive, Cox Automotive estimates a half-million vehicles may wind up in the scrap yard.

"This is worse than Hurricane Sandy," said Jonathan Smoke, chief economist for Cox Automotive. "Sandy was bad, but the flooding with Hurricane Harvey could impact far more vehicles."

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#1: misterwhite    To: XDMAR (#0)

Cox Automotive estimates a half-million vehicles may wind up in the scrap yard.

Really? I'd assume a new $50,000 Lexus that's been submerged has some residual value. Hell, just the wheels and tires have got to be worth $1-2,000.

misterwhite posted on 2017-08-29 21:12:46   Reply   Private Reply

#2: XDMAR    To: misterwhite (#1)

It will be a good while before it is safe to buy a used car in the Houston area.

XDMAR posted on 2017-08-29 21:24:42   Reply   Private Reply

#3: Pinguinite    To: XDMAR (#2)

If there's one thing there's always been a glut of in the US, it's used cars. I'm sure they'll be imported into the Houston area.

Pinguinite posted on 2017-08-29 22:22:49   Reply   Private Reply