June Indices Results
European auto loan and lease credit performance moved in opposite directions this month, with annualised losses in our EUR47 billion auto loan ABS index falling 13 basis points (bps) month-over-month (MoM) and 16 bps year-over-year (YoY) to 0.38%, while losses in our EUR33 billion auto lease ABS index climbed to 0.62%, up 15 bps MoM and 45 bps YoY. Notably, auto lease index losses are now at their highest level since April 2017.
Meanwhile, delinquency rate metrics were more aligned, with the percentage of borrowers in early-stage (30-59 days) and late-stage (60+ days) delinquency climbing moderately MoM in both indices. Current index values as well as MoM and YoY changes are shown in Figure 1.
The data shown in this report and other indices metrics can be found here.
European Auto Loan ABS Index Performance
Annualised losses decreased MoM and YoY in KBRA’s…