OREANDA-NEWS. Fitch Ratings says in a new report that European auto ABS continued to improve in 2Q15 as arrears reached record lows. The Fitch 30+ Delinquency Index and the Fitch 60+ Delinquency Index fell to 0.83% and 0.4%, respectively, from 0.89% and 0.42% in 1Q15. The Fitch Annualised Loss Index decreased slightly to 0.2% from 0.24% in the same period.

Macro-economic factors showed varying trends across the EU, with new car registrations increasing across all the five major EU economies in 2Q15, while used car prices in the EU decreased on an aggregate basis during the quarter.

Total auto ABS issuance volumes, which include retained transactions, were down 31% on a volume basis in 2Q15 relative to 2Q14. In terms of number of transactions, however, new issuance increased to 14 in 2Q15 from 13 in 2Q14, including tap issuance from French and German Master Trusts.

The report, entitled 'Auto ABS Index - Europe 3Q15', is available on www.fitchratings.com or by clicking on the link above.

Separately, Fitch has launched ABS Compare, an Excel tool that provides easy access to the agency's surveillance and index data on European consumer and credit card ABS transactions (see ABS Compare).