The net loss rate fell but arrears increased in a snapshot yesterday from Fitch Ratings on vehicle finance in Australia.Recovery rates "are trending downwards," the credit ratings agency said, "as competitive new car sale prices put downwards pressure on used vehicle prices. Recovery rates on repossessed cars were 44 per cent in December 2015."Fitch said the annualised net-loss rate dropped 13 basis points to 0.39 per cent over the December 2015 quarter.30 day and 60 days loan delinquencies increased 11 bps and 17 bps year-on-year in December 2015 to 1.1 per cent and 0.54 per cent, Fitch said."Arrears deteriorated due to Christmas and holiday spending. Borrowers may have struggled to adjust spending following lower real wage growth over 2015. Arrears were assisted by retail petrol and diesel fuel prices declines of 13 per cent and 17 per cent in the year to December 2015, which helped alleviate spending pressures."Prime auto ABS issuance Fitch was at "a record high of A$6.8 billion in 2015, 14 per cent higher than the previous year."The outstanding collateral underlying the Fitch study increased by $900 million to $10.8 billion.