U.S. auto sales, which have been weak all year, received an unexpected lift after hurricanes Harvey and Irma struck the United States.
At least 600,000 vehicles were severely damaged or completely scrapped as a result of the major hurricanes, according to Cox Automotive. Of that total, up to 400,000 vehicles are expected to be replaced by the end of November, with 30 to 40 percent by way of new car purchases and the rest with preowned vehicles, said Jonathan Smoke, chief economist for Manheim, a unit of Cox, during a conference call on Oct. 6.
