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May 13 (Reuters) - (The following statement was released by the rating agency)
Fitch Ratings says in its quarterly European Auto ABS Index report that the performance of its indices was primarily stable in 1Q14. The Fitch Annualised Loss Index and the Fitch 60+ Delinquency Index were largely unchanged at 0.4% and 0.6%, respectively, in 1Q14, while the Fitch 30+ Delinquency Index decreased slightly to 1.3% from 1.4%.
Macroeconomic factors showed signs of recovery across the EU, with new car registrations increasing across all the top five EU economies in 1Q14. Used car prices in the EU remained stable on an aggregate basis in 1Q14, after increasing from crisis-level lows in 4Q13.
New auto ABS issuance across Europe in 1Q14 was up 36% on a volume basis. In terms of transaction count, issued transactions more than doubled relative to those in 1Q13.
The report, entitled 'Auto ABS Index - Europe 1Q14', is available on www.fitchratings.com or by clicking on the link above.
Link to Fitch Ratings' Report: Auto ABS Index Europe 1Q14