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Auto-loan delinquencies drop for prime and subprime loans

Sixty-day delinquencies on prime auto loans fell to 0.35% in March, the lowest level in more than 10 years, reports Fitch Ratings. Delinquencies for subprime auto loans dropped to 2.56%, which was the lowest level in nearly a year. Losses on securities backed by auto loans hit a record low in March, Fitch said.