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Insurance Auto Auctions (IAA) is expanding the launch of its new towing app to aid towing and hauling contractors transporting vehicles impacted by Hurricane Florence and the resulting flooding.
Used-vehicle auctions have started resuming regular business hours following the effects of Hurricane Florence, which had less of an impact on the U.S vehicle market than Hurricanes Harvey and Irma in 2017.
After the heavy rains brought by Florence to the Carolinas stopped, estimates about the number of vehicles that were destroyed by the storm began to roll in that made it clear the storm would have far less of an impact that the pair of storms that reached Texas and Florida a year ago.
Several North Carolina used vehicle auctions closed as a result of Hurricane Florence sweeping into the state, while others shifted to online sales or delayed on-site sales.
Insurance Auto Auctions has taken steps to prepare its auctions for Hurricane Florence with lessons the company's leaders learned from last year's hurricanes, said John Kett, the company's chief executive and president.
More stringent guidelines may be coming to used car Buyers Guides, the document that dealers need to include in every used car they offer for sale, according to the Associated Press.
Copart has opened a new location in Lumberton, N.C., meant to serve as a catastrophe response facility during severe weather events along the United States’ North Atlantic coastline.
Fleet mainstays such as pickups and vans are expected to perform well at wholesale this year. Higher-end vehicles, such as those found in executive fleets are expected to struggle.
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.
Manheim Puerto Rico hosted its first post-hurricane sale on Oct. 12 — 200 vehicles were offered for sale, the auction announced. Of those, 70 sold and an additional 30 vehicles are pending sale.