A Banking Day article published last Thursday, "Collections headaches spin in vehicle finance" warrants a more robust correction than appeared in Friday's edition.The article wrongly attributed research by Fitch Ratings to Moody's Investors Service.The net loss rate fell but arrears increased, Fitch Ratings observed in a snapshot on vehicle finance in Australia.Recovery rates "are trending downwards," Fitch 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.Our apologies to Fitch, Moody's and readers.