The Texas auto market is expected to lose between 20,000 and 40,000 new vehicle sales in August due to the impact of Hurricane Harvey, Cox Automotive said in a statement Wednesday.
However, September is also expected to receive a boost in sales from delayed purchases.
The Houston area has a vehicle ownership rate of 94.4%, which is higher than the average U.S. rate of 91%. Houston's vehicle ownership rate is second only to Dallas, which has an ownership rate of 94.9%.
More of What's Trending on TheStreet: