IHS Markit’s automotive analysts have developed an overview of what Hurricane Harvey can mean to the automotive industry in Texas.
The report said mainly the Houston, Texas, area and the sales in that region would be affected. August sales and potentially September sales will be impacted but lost sales are expected to be recovered. IHS Markit forecasts increased service revenue and a potential sale bump in the late third and fourth quarter 2017 for area dealerships.
The area is not home to a significant amount of automotive production and the GM and Toyota plants that are in the area didn’t lose production capability. IHS Markit does not currently project any increases in production in the immediate term, it said. The expected solution will be for dealers to work together to move inventory as needed.
For more information visit IHSmarkit.com.