The hurricanes that swept through Texas and Florida destroyed and damaged as many as 900,000 vehicles, and the replacement activity that the catastrophic events spurred boosted retention by almost 2%, according Black Book.
A Year of Variance & Prosperity in the Wholesale Market
Overall used values were very strong in retention for the first half of 2012. Fleet remarketing teams continued to bring in better-than-predicted returns as they remarket out-of-service vehicles.
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