Louisiana dealers hit hard; 100,000 vehicles damaged
As is well known, the recent floods in Louisiana hit hard, especially in and around Baton Rouge and Lafayette. Many dealership employees lost their homes; many others suffered severe damages. Initially, 60 to 80 franchised dealerships were closed or disrupted, some losing their entire inventory, Automotive News reported.
For dealers in the rest of the country, a plea and a warning. The plea comes from NADA, which is asking dealers, nationwide, to contribute generously to its Charitable Foundation Emergency Relief Fund to help Louisiana dealerships affected by the flooding. The association hopes to raise more than $2 million for Louisiana dealers. Checks of up to $1,500 will be distributed directly to affected employees. Besides dealers themselves contributing to the Louisiana disaster, dealer associations like WANADA, have joined NADA in contributing funds to stricken fellow dealers and their families To donate to the effort, click here.
The warning: It is estimated that at least 100,000 vehicles were damaged by the floods, and about half of those will return to market, according to Automotive News, citing the National Insurance Crime Bureau and Carfax. No doubt some of those vehicles will have their titles washed, so dealers should check with extra care the titles of any vehicles they purchase at auction in the next several months.Download Bulletin PDF