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Snapshot: Hurricane Impact on U.S. Auto Industry

It is devastating to see the impact Hurricane Harvey has had on the people of Houston. Their livelihoods have changed in all aspects including prices for nearly everything, housing, their jobs, access to gas, the source of energy, transportation, and their automobiles. This note is a snapshot of the impact Hurricane Harvey has had on the Houston community and the Houston auto ecosystem briefly compared to Hurricane Sandy and Katrina. 

What businesses are in the Automotive Ecosystem? 

Below is a quick insight into all the businesses associated with the automotive industry that will need to contribute to the success of rebuilding the automobile market. These businesses include company owners facilitating a smooth process to ease the pain points from the hurricane. The need will include executing cost saving strategies through people and technology to ensure Houston is back on their feet and commuting again.

  • Auto Detailing
  • Auction Houses
  • Automobile Manufacturers
  • Automobile Financial Services 
  • Banking Financial Services
  • Consulting Firms
  • Food Vendors
  • Government Agencies
  • Insurance Companies
  • Insurance Fraud Companies
  • Marketing and Advertisement Firms
  • New Car Dealerships
  • Towing Companies
  • Temporary Storage
  • Title Agencies
  • Used Car Dealerships
  • Vehicle Extraction Companies
  • Wholesale Auto Buyers
  • Wholesale Auto Sellers

Brief snapshot of Hurricane impact on the Automotive Industry

Texas is the 2nd largest automotive market in the U.S. This equates to Texas having an 8.9% share of total U.S. new-vehicle registrations. The Houston market alone purchased 325K new vehicles during the past 12 months. This hurricane is estimated to destroy between 300K to 500K vehicles. Hurricane Sandy destroyed between 100K to 250K while Hurricane Katrina destroyed 571K along the Gulf Coast and Florida.

Below is additional detail: