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Sandy to Cost Luxury-Car Dealers Needing Northeast U.S. Sales
Luxury-car brands such as Honda Motor Co. (7267)’s Acura and Daimler AG’s Mercedes-Benz will take a disproportionate hit from Hurricane Sandy, with as much as 25% of U.S. sales coming from cities in the storm’s path.
“The last week of the month is typically a big week in terms of new vehicle sales,” Larry Dixon, senior analyst for the National Automobile Dealers Association, based in McLean, Virginia. “Everyone’s trying to finish off the month on a high note. We might see October sales down just a bit from what everybody had anticipated.”
The New York, Washington and Philadelphia markets account for a quarter of Acura’s U.S. sales, 24% of Mercedes- Benz’s and 23% for Bayerische Motoren Werke AG and Volvo Cars, according to auto researcher Edmunds.com.
Honda is the most popular brand in New York, and in Washington it’s Toyota Motor Corp. (7203), according to Edmunds.
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