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Natural disasters are often referred to as catastrophic for a reason - the sheer nature of their damage is not limited to a ripple effect but a flat out splash - covering individuals, infrastructure, businesses, and more. Hurricane Sandy has passed, but many northeast residents are still without basic supplies, while others may have lost their homes, businesses, cars, and more.
It is estimated that the damage from the superstorm will total between $30 and $50 Billion, with New York bearing 34% of the loss, New Jersey 30%, Pennsylvania 20%, and all other states 16 %*. As the numbers continue to stagger in, we wonder, what is the automotive industry’s place in this recovery?
An estimated 250,000 cars were flooded by the super storm** - leaving many individuals stranded without transportation. In an already tight used car market, damaged vehicles present not only a cost and supply issue, but a health and safety hazard to consumers who may unsuspectingly purchase a replacement vehicle that experienced extensive flood damage.
Here at SureSale, our business model is built around both dealer and consumer confidence and transparency – making it only fitting that we take action. So, we immediately deployed certification experts to complete on-the-ground inspections to assess the damage and certification status of SureSale Certified vehicles on lots affected by flooding. Following comprehensive inspections, vehicles were immediately deemed either undamaged, in need of repair, or unsalvageable and removed from SureSale Certified vehicle status.
We maintain our commitment to quality pre-owned vehicles and our team continues to work with dealerships affected by Sandy. It is our hope that this small but significant action will provide some much needed confidence and security for individuals trying to put the pieces back together.
For more info on our flood inspections, click here
For more info on SureSale, click here
*The New York Times, November 1, 2012 - http://www.nytimes.com/2012/11/02/business/estimate-of-economic-losses-now-up-to-50-billion.html
**LA Times, November 9, 2012 - http://www.latimes.com/business/la-fi-autos-flooded-cars-20121109,0,244965.story
To stay current on the CPO industry, go to www.jeffreyschwartz.com