Fitch: Auto ABS Losses Climb in September
Though auto loan delinquencies and losses rose in September, they remain low overall and well within 2005-2007 levels. Those were the key findings from a report released this week by Fitch Ratings. Fitch’s “In the Auto ABS Driver’s Seat” newsletter for 3Q11 also notes that auto loan asset-backed securities were marginally weaker during the prior-year quarter.
The publication covers prime and subprime auto loan ABS performance, the state of the U.S. consumer and economy, the wholesale vehicle market, auto sales, rating actions during the quarter, and dealer floorplan ABS trends.
Additionally, the newsletter includes Fitch’s recently released Auto Lease Residual Value Loss Index that dates back to 2007 and tracks performance through mid-2011. The index summarizes monthly residual value losses and gains among U.S. auto lease ABS pools originated by various U.S. domestic and foreign captive finance companies.
