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A preliminary assessment by Houston-based Group 1 Automotive found that employees were able to protect most of the company’s inventory in its Houston and Beaumont, Texas, stores from the devastating effects of Hurricane Harvey.
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Black Book issued its estimate days after Cox Automotive Chief Economist Jonathan Smoke said the number of damaged vehicles could reach half a million. With Harvey coming ashore near the Texas-Louisiana border on Wednesday, forecasts remain fluid.
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The NADA Foundation is calling on dealers and dealer association groups to donate online to its emergency relief fund. Dealership employees affected by the flooding can apply for financial assistance.
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