While the issuance of overall auto-related ABS is running behind 2012’s year-to-date figure, the sub-prime sector is actually ahead of the same time frame last year, according to a research note by Standard & Poor’s.

The agency said that so far in 2013, there has been issuance worth a total $11 billion, a number that includes an $891.14 million deal from Santander Consumer USA whose pre-sale report was released just yesterday.

There was $19 billion in subprime auto securitization for the entire 2012. GM Financial and Santander continue to dominate this segment, originating about 70% of the total year-to-date.

Overall auto-related securitization reached $45 billion in 1H 2013, a drop of 10% from the $50 billion posted in the first six months of last year.

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