The European auto securitization market is revving up, with this year's deals set to nearly double the output from 2006. The market is bristling with so much activity, sources say, that business is crossing beyond the continental European borders into eastern European countries, and even further.

"A lot of [growth] is general market trends, but autos do seem to be leading the way in some of the newer markets, such as Russia, Kazakhstan, Poland, etc.," said Chris Such, an analyst at Standard & Poor's. "There is resilience in the deals but a general market downturn would also affect the auto deals at some point."

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