Houston's auto auctions have begun assessing the impact of Hurricane Harvey so they can resume full business activity to supply replacement vehicles for those who lost cars, trucks, and SUVs in the flood.
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While market watchers agree that Hurricane Harvey's impact stretches beyond Houston-area automotive business, estimates on exactly how many vehicles will need to be replaced vary between half a million and million vehicles, including as many as 18,500 fleet vehicles.
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Vehicle logistics provider MetroGistics has hired Susan Moritz as vice president of business development. In this new position, she will be responsible for leading and growing the OEM and mega dealer business segments.
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Heavy flooding from what is now Tropical Storm Harvey has disrupted commercial fleets in the Houston area, as corporations and fleet management companies have begun reaching out to their employees and fleet drivers to ensure their safety and assess damage to fleet vehicles.
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Auction prices for fleet lease vehicles have increased 1.8% through July even with a 0.1% decline in the month amid "price softening," according to Tom Kontos' latest commentary.
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The car segment saw a week-over-week rise in depreciation while the truck segment saw a lower depreciation rate last week, according to Black Book’s Aug. 28 Market Insights report.
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Subcompact luxury crossovers, compact luxury crossover/SUVs, and mid-size luxury crossover/SUVs posted the highest depreciation within the truck segment, according to Black Book's August 22 Market Insights report.
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Safety bollards and VIN scanners will be introduced to bidding lanes to reduce risk of injury and facilitate efficient bidding.
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The DealShield DS360 guarantee protects a dealer's wholesale vehicle purchase and gross profit for up to 21 days and 360 miles. If the customers decides the purchase isn't right for any reason, they can return the car and get 100% refund of the purchase price and buy-fee.
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Johnson’s addition to the board will add someone who has a deep understanding of the automotive landscape and how companies use data and technology in their operations, the company added.
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