Wed, Mar 26, 6:11 PM (32 days ago)
**Santander Drive Auto Receivables Trust 2023-2 (SDART) - Financial Summary** **Ticker:** Not applicable (private trust) **Financial Performance (2024):** - **Revenue:** Not explicitly stated, but derived from auto receivables. - **Net Income:** Not explicitly stated. - **Operating Expenses:** Not explicitly stated. - **Earnings Per Share:** Not applicable (trust structure). **Strategic Overview:** - SDART is a securitization vehicle for auto receivables originated by Santander Consumer USA Inc. - The trust benefits from the credit enhancement and servicing capabilities of Santander Consumer USA Inc. and Wilmington Trust, National Association. **Future Outlook:** - The trust's performance is tied to the underlying auto receivables pool. - The trust has no material instances of noncompliance with servicing criteria, indicating a stable operational environment. **Risk Factors:** - Credit risk associated with the underlying auto receivables. - Interest rate risk and prepayment risk. - Operational risks related to servicing and administration. **Financial Condition:** - The trust has no voting or non-voting common equity outstanding held by non-affiliates. - The trust's financial condition is supported by the credit enhancement and servicing capabilities of its sponsors and servicers. **Market Position Changes:** - Not applicable (private trust structure). **Key Documents:** - Underwriting Agreement, Indenture, Purchase Agreement, and various compliance and assessment reports are included as exhibits. **Note:** The trust has omitted certain items in accordance with General Instruction J to Form 10-K, focusing on securitization-specific disclosures.