July Indices Results
European auto loan and lease credit performance varied in July. Annualised losses in our EUR50 billion auto loan ABS index increased 7 basis points (bps) month-over-month (MoM), but fell 18 bps year-over-year (YoY) to 0.46%. Meanwhile, after hitting a seven-year high last month, losses in our EUR33 billion auto lease ABS index declined to 0.41%, down 21 bps MoM, but 23 bps higher YoY.
Delinquency rate metrics were more closely aligned, with the percentage of borrowers in early-stage delinquency (30-59 days) holding steady at 0.43% for auto loans and falling 4 bps to 0.29% for auto lease transactions. Late-stage (60+ days) delinquency rates climbed 1 bps MoM for auto loans and 4 bps MoM for auto lease transactions in July. 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