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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.

2014 Toyota Corolla debuts with more power, interior space

Depending on who you ask, the best-selling car in the world is either the Ford Focus or Toyota Corolla. Not surprisingly, Toyota claims it's the Corolla. Either way, we're talking around a million individual units per year, and over 40 million over the car's lifetime on the market, so the redesign of Toyota's compact sedan is big-time news for the Japanese automaker that it needs to get right.
The Toyota Corolla was last redesigned way back in 2008, meaning the 2014 model is a long-overdue update to the C-segment sedan. Its age shows when compared to newer rivals like the Honda Civic, Chevy Cruze, Hyundai Elantra and the aforementioned Ford Focus when comparing technology features, fuel mileage and interior roominess. In an effort to solve those demerits, Toyota has added nearly four inches to the 2014 Corolla's wheelbase and will offer a new continuously variable transmission with seven simulated gear ratios.
Engine choices consist of two available 1.8-liter four-cylinder units, one with 132 horsepower and 128 pound-feet of torque, and another more efficient version that uses Toyota's new Valvematic technology to offer 140 horses and 126 lb-ft of torque. Eco and Sport modes will be selectable by the driver.

Toyota maintains world's largest automaker crown, GM and VW close behind

Toyota still holds the title of World's Largest Automaker. The Japanese automaker ceded the claim to General Motors in 2011 following a series of natural and man-made disasters that stifled production in Asia. Production is back up to full speed and, coupled with the introduction of a new Camry midsize sedan, Toyota retook the title in 2012 and has so far been able to keep it by selling 2.43 million vehicles in the first quarter of 2013.
The race is still tight - General Motors reports sales of 2.36 million vehicles, earning it the second spot globally with Volkswagen's 2.27 million sales nabbing the German automaker third place. It's not all smooth sailing for Toyota, either, as the brand's first-quarter figures were down 2.2 percent when compared to last year. GM posted a 3.6-percent gain and VW managed a 5.1-percent gain over the same period.
Sales in China may be a deciding factor as to which automaker performs best in 2013. Toyota's figures were down 13 percent in China. Meanwhile, GM and VW are continuing their upward trajectories in the crucial Chinese market.