August Indices Results
European auto loan and lease credit performance was mixed in the month of August. Annualised losses in KBRA's EUR49 billion auto loan ABS index decreased 2 basis points (bps) month-over-month (MoM) and fell 12 bps year-over-year (YoY) to 0.43%. Meanwhile, losses in KBRA's EUR34 billion auto lease ABS index increased 30 bps MoM to 0.72%, 53 bps YoY, reaching a new seven-year high after declining in July.
Delinquency rate metrics had an overall increasing trend, with the percentage of borrowers in early-stage delinquency (30-59 days) rising 4 bps MoM to 0.47% for auto loans and rising 5 bps to 0.34% for auto lease transactions. Late-stage (60+ days) delinquency rates declined 1 bps MoM for auto loans and increased 1 bps MoM for auto lease transactions in August. 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