KBRA’s Prime and Non-Prime U.S. Auto Loan ABS Indices displayed stronger performance during the March remittance period, with improvements across major credit metrics. Our prime and non-prime sectors saw annualized losses fall 13 basis points (bps) and 125 bps month-over-month (MoM), respectively, while the percentage of delinquent borrowers declined across both early- (30-59 days) and late-stage (60+ days) buckets in each index.
On a year-over-year (YoY) basis, both indices showed weaker credit performance compared to 2025 levels. Each index recorded YoY increases across all major credit metrics, with the most pronounced rise in the non-prime net loss rate, which increased 97 bps. The prime index experienced more modest softening, with losses and early-stage delinquencies each rising 6 bps, and late-stage delinquencies increasing 3 bps.
We expect delinquency and loss rates across both indices to continue declining in April, following typical seasonal patterns, as many…
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