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Cox Automotive believes the likely range of severely damaged vehicles that could need replacement is between 30,000 and 70,000 vehicles.
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Manheim and ADESA reopened their Florida auction facilities last week, as Hurricane Irma moved north toward Tennessee.
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As many as 400,000 vehicles in Florida will need to be replaced as a result of Hurricane Irma, including as many as 11,000 fleet vehicles, according to Cox Automotive.
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Black Book issued its estimate days after Cox Automotive Chief Economist Jonathan Smoke said the number of damaged vehicles could reach half a million. With Harvey coming ashore near the Texas-Louisiana border on Wednesday, forecasts remain fluid.
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Hurricane season kicked off on June 1 for Florida and other states along the East Coast. Two accounting and financial planning experts offer tips on how to prepare for that and other natural disasters.
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