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.
Vehicle Depreciation Shows Pockets of Strength at Midway Point
The average price of a used vehicle for model years 2012 to 2016 decreased in value 1.3%, slightly more than the 1.2% decrease in May, according to Black Book. The price of cars overall dropped 1.8%, while trucks decreased 0.8% in value in June. All vehicles are averaging a 12-month depreciation of 16.7%.