To update you on the wonders of a good natural disaster:
Steven Wolf, chairman of the Houston Automobile Dealers Association, said there has been a big spike in customers streaming into dealerships after quick settlements with their insurance companies.
They are mostly looking for pickups and utility vehicles, since that’s about 70 percent of the market in Houston, said Wolf, dealer principal at two stores in the Helfman Motor Sales group. “In our stores, there’s a lot of push for Jeeps, pickup trucks, F-150s, Explorers, Expeditions, Escapes,” he said. Some of the most popular Jeep and Ram trims are in short supply, but dealers in other parts of the country are forgoing inventory so that it can go straight to Houston.
Cooperation between lenders and insurance companies has sped up the process, with flood-damaged cars quickly being declared total losses so that titles are cleared and customers qualify for new loans.
“I’m surprised at how well the insurance companies and banks are working together,” Wolf said. “But remember, in Houston, Texas, we don’t have a tremendous amount of mass transportation, so people need to get a car so they get back to work and get their lives back to normal.” [Automotive News, 28 Sept 2017, emphasis added]