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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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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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The Manheim Used Vehicle Value Index hit a record high for the second consecutive month, as wholesale used-vehicle prices rose 1.1% month over month in June. The increase brought the Index to 129.3, a 2.5% increase from a year ago.
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Cox Automotive has named Jonathan Smoke as its new chief economist, according to a company announcement. In his new role, the company added, Smoke will be responsible for leading the creating of an economic industry insights office.
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Tom Webb will retire as Cox Automotive's chief economist after a more-than-four-decade career, where he became a leading voice about the economic health of the automotive industry.
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Ready Logistics moved more than 194,000 vehicles in January, which was a 55% increase over January of 2016 for the Cox Automotive-owned company.
Read More →Cox Automotive has acquired a majority shareholding in Molicar, Brazil's vehicle valuations business.
Read More →The American Red Cross has recognized Cox Automotive for supporting Red Cross Disaster Relief through the Disaster Responder Program.
Read More →Cox Automotive Canada with its Manheim Canada operations has partnered with XLane to provide a digital solution for dealers with InstantAuction.
Read More →With India’s growing new-vehicle market making way for accelerated growth in its used-vehicle market, Cox Automotive has made a strategic investment in Mahindra First Choice Wheels Ltd.
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