CARFAX projects widespread flooding in New York City, New Jersey and Louisiana will lead to large number of flood damaged vehicles.
In the wake of Hurricane Ida and other intense storms across the United States, consumers need to be on alert for flooded vehicles resurfacing on the used car market. CARFAX data suggests widespread flooding from Hurricane Ida – centered around New York City, New Jersey, and Louisiana – potentially damaged as many as 212,000 vehicles.
The demand for replacement vehicles will likely drive further inflation in both new and used vehicles prices, particularly as new vehicle inventory is constrained
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