The Ford Motor Co. (F) said on Tuesday that the decimating effects of Tropical Storm Harvey have caused "significant damage" to its dealers in the areas hit by the storm.
"We are gathering information from local authorities and dealers so we can offer our assistance in the most effective way possible," Ford said in a statement to TheStreet.
Ford will contribute $100,000 to the disaster relief efforts in Texas after floods of historic proportions sent many residents fleeing their homes. The automaker will also match up to $50,000 in contributions to the American Red Cross, boosting possible assistance from Ford to $200,000.
Shares of Ford were inching higher in midday trading on Tuesday.
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