According to SubPrime Auto Finance News, Fitch sees ‘softer fall’ approaching in U.S. auto ABS market.
Fitch Ratings reported this week that losses on both prime and subprime U.S. auto ABS rose in July following lows seen earlier in the spring.
Despite the increase, analysts indicated used-vehicle values have stayed strong in the past two months.
“Additionally, overall asset performance remains strong heading into the softer fall months thanks to the healthy wholesale vehicle market and slowly improving economic factors. That said, some leveling off of performance is in store,” Fitch said.