Hurricane Harvey's impact on the state's used car industry
If you’re thinking about selling your car, this might be a great time to do it. The auto industry in Texas is racing to keep up with families that need to replace their cars after hurricane Harvey.
When rain from Harvey pounded down on Texas roads and homes, Texas cars also took a beating, leaving hundreds of thousands of vehicles underwater across the state.
The massive loss of cars is also changing the way people shop right here in Central Texas.
“There was less to choose from, where normally they might have 12 to choose from, there were only two in a certain kind that you were looking for,” said Terrie Hembree who has been shopping for a used car in Austin.
Some estimate as many as half a million cars were either destroyed or damaged during the massive hurricane.
Robert Braziel with the Texas Automobile Dealers Association says many are still waiting on insurance claims and haven’t even begun to shop for replacement cars.
“The used car market is going to have an adjustment,” said Braziel.
While he says manufacturers and dealers are working together to keep up with demand, they’re just not seeing as many trade-ins.
“You will see people migrating to find the vehicles that they need and that they’re able to afford,” Braziel said.