Ratings Raised, Affirmed On 14 Ally Auto Receivables Trusts And One Capital Auto Receivables Asset Trust Aug 13
- Language: English
- Published: August 2013
The U.S. auto loan asset-backed securities (ABS) industry's performance has strengthened considerably since early 2009, and the unprecedented surge in used vehicle values has played a pivotal role in that success. As of May 2011, the Manheim Used Vehicle Value Index reached a record high of 127.8, up 5.6% from May 2010 and 17.1% from May 2009. As the market slowly emerges from the recession, the auto industry has also begun to recover, though it is still feeling the effects of the downturn. One positive offshoot of the production and sales declines we've seen since 2009 is the low used vehicle inventory, which continues to push used vehicle prices higher. In Standard & Poor's Ratings Services' view, this trend has...
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