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An increasing number of flood-damaged vehicles are returning to the used market across the country, and increasingly in states where flooding might not be top of mind, according to new data from Carfax.
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Some travelers in Miami have been leaving cars at gas stations that had run out of fuel for customers.
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Enterprise is in the process of transporting several thousands of its vehicles from surrounding cities and states into the southeastern coastal region, moving them to critical areas to help meet demand and assist with disaster recovery and hurricane clean-up efforts.
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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.
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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.
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Shares of Hertz Global Holdings rose 2.5%, while Avis Budget Group shares added 1.4%, amid expectations of a sudden demand increase on rentals.
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Some 600,000 to 1 million vehicles were severely damaged or lost as a result of Hurricanes Irma and Harvey, resulting in a spike in vehicle sales and buoyed depreciation.
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While the effect that Hurricane Irma had on Insurance Auto Auction's and Copart's operations in Florida was relatively mild, Houston was a different story.
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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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Manheim and ADESA reopened their Florida auction facilities on Tuesday, as Hurricane Irma moved north toward Tennessee.
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