European auto loan and lease credit performance improved in September, with annualised losses and early-stage delinquencies moving lower across both indices. Annualised losses in KBRA's EUR50 billion Auto Loan ABS Index fell 4 basis points (bps) month-over-month (MoM) and 9 bps year-over-year (YoY), while losses in KBRA's EUR34 billion Auto Lease ABS Index continued to be volatile, falling 33 bps MoM off a seven-year high in August, but still up 15 bps YoY.
The percentage of borrowers in early-stage delinquency (30-59 days) declined 1 bp MoM in both indices. However, auto loan and lease late-stage (60+ days) delinquency rates increased 5 bps MoM and 2 bps MoM, respectively. 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…
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