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Hurricane Sandy cost automakers 15,000 vehicles, may have ruined up to 200k

Hurricane Sandy was the largest Atlantic storm in US history, and its total economic impact is just now coming into view. According to Automotive News, Toyota, Chrysler, Nissan and Honda are set to scrap around 15,000 new vehicles ruined by the storm. Nissan alone accounts for about 40 percent of those, with 6,000 Nissan and Infiniti models deeded "un-saleable" due to damage. The company saw 56 dealerships shuttered due to the storm, but 51 of those have since reopened.
Toyota, meanwhile, had some 4,000 vehicles at its Newark port facility, and of those, 3,000 may be scrapped. An additional 825 were dealer inventory when they were ruined. Honda and Acura dealers are reportedly sending 3,440 vehicles to the salvage yard. By comparison, Chrysler weathered the storm fairly well with 825 units destroyed, while Hyundai suffered only 400 lost units and Kia scrapped around 200.
As you may recall, Fisker also suffered some losses, and Automotive News reports the manufacturer saw 320 Karma models damaged beyond repair. Ford and General Motors have yet to come up with estimates, and no automaker has commented on the full cost of replacing the vehicles.

BMW, Toyota warn about Chinese market slowing down

BMW and Toyota are the latest automakers to become concerned about the closing throttle on the once rapidly accelerating vehicle market in China. There might be drastic effects on their ledgers at the end of the year. With the Chinese stock market no longer looking so healthy, the people just aren't buying as many new cars as in the past. Things got really bad in June after the first drop in deliveries in two years. BMW has already reduced Chinese production by 16,000 units so far this year. Despite the slowdown, the company has kept a brave face. "We experience that volatility in all emerging markets," BMW CEO Harald Krueger said in a conference call, according to Automotive News. The problem for Toyota is a bit stranger. Through July, the automaker's Chinese deliveries were actually up 12 percent. However, the gain was offset by falling sales prices. "This is making our business in China quite difficult. The business environment is getting tougher," Toyota Managing Officer Tetsuya Otake said, Automotive News reported. Much of the weakness in China has come in the middle part of the year, and from January through June deliveries were still up 8.4 percent. This means the effects haven't hit the financial results of some automakers too hard quite yet. In the second quarter, General Motors referenced the "challenging conditions" there but still posted a growing net income of $1.1 billion. Despite falling global sales, Toyota managed record income for the quarter, too.

Anti-EV messaging alive and well at Toyota, sort of

The folks at Toyota in Japan can be pretty blunt about electric-vehicle technology prospects as a viable transportation alternative to the internal combustion engine. Here in the states? Slightly more sanguine. Toyota global head of research and development Mitsuhisa Kato, according to Automotive News, discounts the potential of substantial EV sales in the near future because the appropriate technology that provides comparable driving distances and fill-up times relative to conventional vehicles doesn't yet exist. While Toyota has been conducting testing programs with shorter-commute-distance EVs in countries such as Japan and France, its only production EV in the US is the RAV4 EV, and Toyota sold just 546 of those in the States during the first half of the year. Toyota is much more excited about the debut of its first hydrogen fuel-cell production vehicle, in both Japan and the US, next year. Toyota Motor North America spokeswoman Jana Hartline was a little more charitable when discussing the EV's prospects in an interview with AutoblogGreen. "For shorter range, EVs serve a really great purpose, but as far as having equal mile range to an internal combustion engine, there's going to need to be some serious breakthroughs," Hartline said. "And that where the fuel cell comes in." Last month, Toyota said its fuel-cell sedan that will debut in Japan next April will be priced at about $69,000, though the company emphasized that it shouldn't be assumed it will be priced similarly in the US and Europe. Toyota hasn't released many performance details, though the sedan is expected to have a full (hydrogen) tank range of about 435 miles, or about five times that of a Nissan Leaf. Read here for Autoblog's First Drive of Toyota's fuel-cell sedan.