Used car prices rose significantly in 2020 and 2021 as supply chain shortages limited the supply of new cars. Prices started to fall throughout the second half.
What should lenders expect in 2023?
A detailed discussion of used car value normalization can be found at auto finance summit east Between panels containing Kristen LanzavecchiaDirector of Industry Solutions JD Power; Jeremy RobbSenior Director of Market Insights and Business Solutions Mannheim Cox Automotive; When Alex YurchenkoSenior Vice President and Chief Data Science Officer black bookThursday, May 11, at 1:45 p.m. CT at JW Marriott Nashville.
Auto Finance Summit East, May 10-12 at JW Marriott Nashville, provides knowledge, networking and takeaways for auto financiers.View full event schedule here.
used car price Peaked in January 2022 Decline throughout the year, before reaching the lowest point of the year in November The Mannheim Used Car Value Index, which measures wholesale prices of used cars, fell 15.6% from its peak in January when the index reached 199.4.
Panelists discuss used cars as used car values continue to normalize in 2023– Automotive depreciation rates, changes in wholesale channels, the return of incentives and their impact on value, and segment-by-segment evaluations to create the right portfolio mix.
As JD Power’s Director of Industry Solutions, Lanzavecchia works to ensure the accuracy of updating predictive models and evaluation guidebooks while providing data-driven insights and recommendations to OEMs. She held multiple positions during her seven years at JD Power, including Industry Insights Analyst. Lanzavecchia previously worked in consumer credit management and business strategy. Hyundai Capital America.
As Senior Director of Market Insights and Business Solutions at Manheim-Cox Automotive, Robb’s role includes gathering insights and identifying business solutions across sales, finance, strategy and sales organizations. Previously, he was a senior sales, strategy and analytics manager for remarketing. nissan north america.
Yurchenko leads Black Book’s data science and data operations team. Development and support of all in-house machine learning algorithms, models and predictive techniques for analyzing automotive industry trends. Previously, he was a Senior Data Scientist. 360i,Professor Westwood Collegeand both research assistants and instructors Georgia Tech When Pennsylvania State University.
The Auto Finance Summit East event will provide networking opportunities and educational content for auto lending and leasing at a time when market dynamics require industry participants to execute or reorient their operational strategies. Bringing industry leaders together.
Auto Finance News’ new spring event, Auto Finance Summit East, will take place May 10-12 at the JW Marriott Nashville. Learn more about the Spring 2023 event and registration here.autofinance.live/afs-east.
https://www.autofinancenews.net/allposts/risk-management/valuation-experts-to-discuss-used-vehicle-value-trends-at-afs-east/ Valuation Experts Discuss Used Car Price Trends at AFS East