The Industry's Leading Source For F&I, Sales And Technology

Top News

Fitch: Performance Trends in Prime Auto Loan ABS Continue to Improve

July 7, 2005

NEW YORK -- May saw performance trends continuing to improve in prime auto loan asset-backed securities (ABS). Both the prime auto loan ABS delinquency and prime annualized net loss (ANL) indexes posted improvements.

The indexes, published in the Fitch Ratings newsletter ‘In the Auto ABS Driver’s Seat,’ showed a drop from April of 4.8 percent in delinquencies of 60 days or more to 0.4 percent in May. Delinquencies were 23.1 percent lower in May 2005 compared to that time last year, while the delinquency index hovers at its lowest level since June 2002.

Prime ANL fell 21.4 percent to 0.66 percent in May, marking the 16th straight monthly decline and the lowest level in more than five years. Prime cumulative net losses were 0.85 percent in May, down 3.4 percent from April and 11.4 percent lower than May 2004.

Your Comment

Please note that comments may be moderated. 
Leave this field empty:
Your Name:  
Your Email:  

CLOSE [X]

READ NEXT

GM to Boost Buick Warranty for '06 Vehicles

DETROIT -- General Motors is looking to extend its warranty for all 2006 Buick models in an effort to draw current pricing to a more valuable standard, essentially offering car buyers more bang for their buck.