(Repeat for additional Subscribers)
March 28 (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 Q412. A breakdown of Q4's performance shows that the Fitch Annualised Loss Index and the Fitch 30+ Delinquency Index decreased slightly to 0.5% and 1.6% from 0.6% and 1.7% each respectively. The Fitch 60+ Delinquency remained stable at 0.9% for the quarter.
Macroeconomic factors on average remained stable across the EU, while trends varied across countries. New car sales and used car prices continued to display decreasing trends in Q412 and manufacturers remained under pressure as a result. New auto ABS issuance in Europe increased dramatically in Q412 with issuance volumes doubling the combined volume of the previous three quarters in 2012 and dwarfing previous years' highs.
The index report has been converted into a new format for Q412. The report now replaces the quarterly Tyre Track's Auto Index report.
The report, entitled 'Auto ABS Index - Europe', is available on www.fitchratings.com or by clicking on the link below.
Link to Fitch Ratings' Report: Auto ABS Index - Europe Q4 2012