Much like the rest of the European primary ABS market, new issuance for auto ABS in 2008 slowed significantly compared with the volumes issued during 2007.

According to ABS analysts, approximately E5.6 billion ($7.6 billion) was launched compared with the E11.8 billion recorded in 2007, and only two new auto ABS transactions launched in 3Q08 totaling E2 billion, a 25% reduction compared with Q307.

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