Used-vehicle values rose substantially in 2020 and 2021 as supply chain shortages resulted in limited new-vehicle supply, but values began to decline throughout the second half of 2022 as OEMs ramped up production and new-vehicle supply increased.
What should lenders expect in 2023?
An in-depth discussion on used-vehicle value normalization will take center stage at Auto Finance Summit East during a panel that includes Kristen Lanzavecchia, director of industry solutions at J.D. Power; Jeremy Robb, senior director of market insights and business solutions at Manheim-Cox Automotive; and Alex Yurchenko, senior vice president and chief data science officer at Black Book, on Thursday, May 11, at 1:45 p.m. CT at the JW Marriott Nashville.
Auto Finance Summit East takes place May 10-12 at the JW Marriott Nashville, providing knowledge, networking and key takeaways for auto lenders. View the full event agenda here.
Used-vehicle values peaked in January 2022 before ticking down throughout the year, hitting their lowest point of the year in November when the index hit 199.4 — a 15.6% decline from January’s peak, according to the Manheim Used Vehicle Value Index which measures wholesale used-vehicle prices.
As used-vehicle values continue to normalize in 2023, panelists will discuss used– vehicle depreciation rates, changes to wholesale channels, the return of incentives and what it means for values, and segment-by-segment valuations to create the right portfolio mix.
The panelists
As director of industry solutions at J.D. Power, Lanzavecchia provides data-driven insights and recommendations to OEMs while working to ensure accuracy in the forecasting model and valuation guidebook updates. She has held multiple positions during her seven years at J.D. Power, including industry insights analyst. Lanzavecchia previously worked in consumer credit management and business strategy at Hyundai Capital America.
Robb’s role as senior director of market insights and business solutions at Manheim-Cox Automotive includes working across sales, finance and strategy and sales organizations to gather insights and identify business solutions. He previously served as senior manager of sales, strategy and analytics for remarketing at Nissan North America.
Yurchenko leads Black Book’s data science and data operation teams, and is responsible for development and support of all in-house machine learning algorithms, models and forecasting technics for analyzing trends in the automotive industry. He previously served as a senior data scientist at 360i, a professor at Westwood College, and research assistant and instructor at both the Georgia Institute of Technology and Penn State University.
The Auto Finance Summit East event will bring together leaders in the auto lending and leasing industry with networking opportunities and educational content at the time of the year when market dynamics require industry participants to execute or pivot operational strategies.
Auto Finance Summit East, Auto Finance News’ new spring event, kicks off May 10-12 at the JW Marriott Nashville. To learn more about the 2023 spring event and register, visit autofinance.live/afs-east.
