Multinational Automakers Help With Hurricane Sandy Damage

Multinational automakers, such as General Motors, Ford and Toyota have recently announced their plans to help with the damage caused by Hurricane Sandy.

According to an InsideLine article, General Motors said those whose cars were damaged or destroyed due to Hurricane Sandy, are now eligible to receive a $500 discount on cars purchased or leased, through the end of this year.

Toyota is offering different types of payment extensions to consumers whose cars were damaged in the storm. Toyota also donated $1 million to the American Red Cross, in the hopes of helping Hurricane Sandy victims. Volkswagen made a generous donation ($500,000) to the American Red Cross as well.  Ford has even implemented a bonus rewards program, offering $500 off a new Lincoln or Ford if purchased by January 2013.

Some companies are evening allowing their factories to be used as support centers. Fisker Automotive announced that its Wilmington, Delaware assembly plant is being used as base for utility trucks and power repair teams, while they work to reinstate power in the surrounding area.

Will these philanthropic automakers see an increase in sales in return for their charitable actions and donations? According to a MarketWatch article, although sales for October were a disappointment (as Hurricane Sandy brought sales numbers down in the last few days of October), the industry as a whole can expect to see a sharp rise in sales in the forthcoming months, as many cars will need to be newly purchased and replaced, due to extensive storm damage.

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About Jessica Summers

My name is Jessica Summers. I graduated as valedictorian from Marymount Manhattan College in 2012 with a B.A. in Communications and minors in Journalism and Political Science. During college, I spent a summer abroad studying at Oxford University and also held internships at CNN International, CNBC Business News, and WABC-TV, among other news organizations and media outlets. I am currently a graduate student at New York University’s Business and Economic Reporting program. I am an aspiring broadcast journalist, especially interested in covering the world of business and finance.
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