Fisker says $30 million in cars destroyed by Sandy in N.J. port; More than 10,000 cars damaged by storm at Port Newark

DETROIT, Nov. 7, 2012 /PRNewswire/ -- Top story from the current November 5 issue of Automotive News previewed below.

After the storm  
Fisker Automotive lost more than $30 million worth of luxury cars when a shipment of Karma plug-in hybrids was flooded during Superstorm Sandy last week.  

More than 300 Karma cars, which each start around $100,000, were destroyed at a New Jersey port during the storm, Fisker spokesman Roger Ormisher said on Tuesday.  

The cars were insured and Fisker expects "no impact from a business or a financial point of view," he said, adding that Fisker does not expect any problems with meeting U.S. demand.   

The 300 Karma plug-in hybrids were among the more than 10,000 vehicles damaged during the storm at Port Newark, Ormisher said, citing details he received from port officials.

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SOURCE Automotive News