Cox Automotive believes the likely range of severely damaged vehicles that could need replacement is between 30,000 and 70,000 vehicles.
Manheim and ADESA reopened their Florida auction facilities last week, as Hurricane Irma moved north toward Tennessee.
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.
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.
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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