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Prices and volume are not expected to plummet in 2019, but industry experts seem to feel that the best-case scenario will be a plateau, and more realistically, will fall slightly.
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Mass adoption of autonomous vehicles should begin ramping up in 2023 and will ultimately drive a shift in vehicle ownership from consumers to larger mobility service providers with large fleets of battery-electric, autonomous vehicles, according to a new study from Cox Automotive.
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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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