Exhibit 19.1
Ford Credit Auto Owner Trust 2003-A
Monthly Servicing Report
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Collection Period June, 2003
Distribution Date 7/15/2003
Transaction Month 6
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I. ORIGINAL DEAL PARAMETERS
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Dollar Amount # of Contracts
Original Portfolio: $3,149,999,805.03 175,985
Original Securities: Dollar Amount Coupon Legal Final Maturity
Class A-1 Notes $577,000,000.00 1.363% October 15, 2003
Class A-2 A Notes 640,000,000.00 1.620% August 15, 2005
Class A-2 B Notes 640,000,000.00 1.230% August 15, 2005
Class A-3 A Notes 285,000,000.00 2.200% July 17, 2006
Class A-3 B Notes 285,000,000.00 1.240% July 17, 2006
Class A-4 A Notes 211,452,000.00 2.700% June 15, 2007
Class A-4 B Notes 211,000,000.00 1.270% June 15, 2007
Class B-1 Notes 52,733,000.00 3.160% August 15, 2007
Class B-2 Notes 37,250,000.00 1.590% August 15, 2007
Class C Notes 59,989,000.00 4.290% November 15, 2007
Class D Certificates 59,989,000.00 5.000% July 15, 2009
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Total $3,059,413,000.00
II. COLLECTIONS
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Interest: Simple Interest Loans Precomputed Loans Total
Interest Collections $9,656,056.94 $158.83 $9,656,215.77
Repurchased Loan Proceeds Related to Interest 6,017.98 0.00 6,017.98
-------- ---- --------
Total $9,662,074.92 $158.83 $9,662,233.75
Servicer Advances:
Principal Advances $0.00 $922.13 $922.13
Interest Advances 2,002,804.36 141.76 2,002,946.12
------------ ------ ------------
Total $2,002,804.36 $1,063.89 $2,003,868.25
Principal:
Principal Collections $63,949,150.69 $7,666.97 $63,956,817.66
Prepayments in Full 30,044,655.19 22,371.84 30,067,027.03
Prepayments in Full Due to Administrative Repurchases 0.00 0.00 0.00
Repurchased Loan Proceeds Related to Principal 167,097.71 0.00 167,097.71
Payahead Draws 0.00 171.74 171.74
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Total $94,160,903.59 $30,210.55 $94,191,114.14
Liquidation Proceeds $1,114,897.23
Recoveries from Prior Month Charge-Offs 8,879.75
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Total Principal Collections $95,314,891.12
Principal Losses for Collection Period $2,272,105.43
Total Regular Principal Reduction $96,464,141.70
Total Collections $106,980,993.12
III. FUNDS AVAILABLE FOR DISTRIBUTION
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Total Collections $106,980,993.12
Reserve Account Release 0.00
Reserve Account Draw 0.00
Clean-up Call 0.00
Net Swap Receipt, Tranche A2 B 0.00
Net Swap Receipt, Tranche A3 B 0.00
Net Swap Receipt, Tranche A4 B 0.00
Net Swap Receipt, Tranche B-2 0.00
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Total $106,980,993.12
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Ford Credit Auto Owner Trust 2003-A
Monthly Servicing Report
Collection Period June, 2003
Distribution Date 7/15/2003
Transaction Month 6
IV. DISTRIBUTIONS
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Servicing Fee: Amount Due Amount Paid Shortfall
Total Amount $2,234,873.79 $2,234,873.79 $0.00
Amount per $1,000 of Original Balance 0.73 0.73 0.00
Net Swap Payment, Tranche A2 B $228,800.00
Net Swap Payment, Tranche A3 B $223,091.67
Net Swap Payment, Tranche A4 B $250,621.11
Net Swap Payment, Tranche B-2 $49,759.79
Change in
Noteholders Interest: Amount Due Amount Paid Shortfall Carryover Shortfall Carryover Shortfall
Class A1 Notes $90,586.74 $90,586.74 $0.00 $0.00 $0.00
Class A2 A Notes 864,000.00 864,000.00 0.00 0.00 0.00
Class A2 B Notes 634,133.33 634,133.33 0.00 0.00 0.00
Class A3 A Notes 522,500.00 522,500.00 0.00 0.00 0.00
Class A3 B Notes 284,683.33 284,683.33 0.00 0.00 0.00
Class A4 A Notes 475,767.00 475,767.00 0.00 0.00 0.00
Class A4 B Notes 215,864.72 215,864.72 0.00 0.00 0.00
Class B-1 Notes 138,863.57 138,863.57 0.00 0.00 0.00
Class B-2 Notes 47,711.04 47,711.04 0.00 0.00 0.00
Class C Notes 214,460.68 214,460.68 0.00 0.00 0.00
---------- ---------- ---- ---- ----
Total $3,488,570.41 $3,488,570.41 $0.00 $0.00 $0.00
Certificateholders Interest:
Class D Certificates $249,954.17 $249,954.17 $0.00 $0.00 $0.00
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Total Note and Cert. Interest: $3,738,524.58 $3,738,524.58 $0.00 $0.00 $0.00
Total Available for Principal Distribution $100,255,322.18
Principal Distribution Amounts
First Priority Distribution Amount $0.00
Second Priority Distribution Amount 0.00
Third Priority Distribution Amount 34,635,750.50
Regular Principal Distribution Amount 70,092,844.99
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Principal Distribution Amount $104,728,595.49
Noteholder Principal Distributions:
Class A1 Notes $82,495,802.38
Class A2 A Notes 8,879,759.90
Class A2 B Notes 8,879,759.90
Class A3 A Notes 0.00
Class A3 B Notes 0.00
Class A4 A Notes 0.00
Class A4 B Notes 0.00
Class B-1 Notes 0.00
Class B-2 Notes 0.00
Class C Notes 0.00
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Total Note Principal Paid $100,255,322.18
Certificateholder Principal Distributions:
Class D Certificates $0.00
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Total Note and Certificate Principal Paid: $100,255,322.18
Collections Released to Seller $0.00
Total Available for Distribution $106,980,993.12
Total Distribution (incl. Servicing Fee) $106,980,993.12
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Ford Credit Auto Owner Trust 2003-A
Monthly Servicing Report
Collection Period June, 2003
Distribution Date 7/15/2003
Transaction Month 6
V. DISTRIBUTION PER $1,000 OF ORIGINAL BALANCE Principal Interest Total
---------------------------------------------- Distribution Distribution Distribution
Class A1 Notes $142.97 $0.16 $143.13
Class A2 A Notes 13.87 1.35 15.22
Class A2 B Notes 13.87 0.99 14.87
Class A3 A Notes 0.00 1.83 1.83
Class A3 B Notes 0.00 1.00 1.00
Class A4 A Notes 0.00 2.25 2.25
Class A4 B Notes 0.00 1.02 1.02
Class B-1 Notes 0.00 2.63 2.63
Class B-2 Notes 0.00 1.28 1.28
Class C Notes 0.00 3.58 3.58
---- ---- ----
Total Notes $33.42 $1.16 $34.59
Class D Certificates $0.00 $4.17 $4.17
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Total Notes and Certificates: $32.77 $1.22 $33.99
VI. POOL BALANCE AND PORTFOLIO INFORMATION
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Beginning of Period End of Period
Balance Pool Factor Balance Pool Factor
Aggregate Balance of Notes $2,504,919,802.38 0.8351336 $2,404,664,480.20 0.8017088
Class A1 Notes 82,495,802.38 0.1429737 0.00 0.0000000
Class A2 A Notes 640,000,000.00 1.0000000 631,120,240.10 0.9861254
Class A2 B Notes 640,000,000.00 1.0000000 631,120,240.10 0.9861254
Class A3 A Notes 285,000,000.00 1.0000000 285,000,000.00 1.0000000
Class A3 B Notes 285,000,000.00 1.0000000 285,000,000.00 1.0000000
Class A4 A Notes 211,452,000.00 1.0000000 211,452,000.00 1.0000000
Class A4 B Notes 211,000,000.00 1.0000000 211,000,000.00 1.0000000
Class B-1 52,733,000.00 1.0000000 52,733,000.00 1.0000000
Class B-2 37,250,000.00 1.0000000 37,250,000.00 1.0000000
Class C Notes 59,989,000.00 1.0000000 59,989,000.00 1.0000000
Class D Certificates 59,989,000.00 1.0000000 59,989,000.00 1.0000000
------------- --------- ------------- ---------
Total $2,564,908,802.38 0.8383663 $2,464,653,480.20 0.8055969
Portfolio Information
Weighted Average Coupon (WAC) 5.21% 5.21%
Weighted Average Remaining Maturity (WAM) 44.80 43.99
Remaining Number of Receivables 164,474 161,600
Portfolio Receivable Balance $2,681,848,544.03 $2,585,384,402.33
VII. OVERCOLLATERALIZATION INFORMATION
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Specified Overcollateralization Amount $10,103,844.99
Specified Credit Enhancement Amount $25,853,844.02
Yield Supplement Overcollateralization Amount $115,100,350.45
Target Level of Overcollateralization $125,204,195.44
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Ford Credit Auto Owner Trust 2003-A
Monthly Servicing Report
Collection Period June, 2003
Distribution Date 7/15/2003
Transaction Month 6
VIII. RECONCILIATION OF RESERVE ACCOUNT
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Beginning Reserve Account Balance $15,749,999.03
Specified Reserve Account Balance 15,749,999.03
Reserve Release Amount 0.00
Reserve Account Draws 0.00
Interim Reserve Account Balance 15,749,999.03
Reserve Account Deposits Made 0.00
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Ending Reserve Account Balance $15,749,999.03
Change in Reserve Account Balance $0.00
IX. NET LOSS AND DELINQUENCY ACCOUNT ACTIVITY
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Liquidation Proceeds $1,114,897.23
Recoveries from Prior Month Charge-Offs $8,879.75
Total Principal Losses for Collection Period $2,272,105.43
Charge-off Rate for Collection Period (annualized) 0.51%
Cumulative Net Losses for all Periods $3,891,572.58
Delinquent Receivables: # of Contracts Amount
31-60 Days Delinquent 1,723 $27,331,768.86
61-90 Days Delinquent 259 $4,036,095.16
91-120 Days Delinquent 64 $999,476.79
Over 120 Days Delinquent 67 $1,285,277.13
Repossesion Inventory 200 $3,410,957.37
Ratio of Net Losses to the Average Pool Balance:
Second Preceding Collection Period 0.3920%
Preceding Collection Period 0.5134%
Current Collection Period 0.5232%
Three Month Average 0.4762%
Ratio of 60+ Delinquent Contracts to Outstanding Receivables:
Preceding Collection Period 0.1830%
Current Collection Period 0.2413%
Three Month Average 0.1907%
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Ford Credit Auto Owner Trust 2003-A
Monthly Servicing Report
Collection Period June, 2003
Distribution Date 7/15/2003
Transaction Month 6
Worksheet Information
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Servicer Advances Simple Interest Loans Precomputed Loans
Beginning Servicer Advances $5,347,456.68 $2,766.74
New Advances 1,983,923.77 1,063.89
Servicer Advance Recoveries 1,964,834.04 690.20
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Ending Servicer Advances $5,366,546.41 $3,140.43
Current Month Interest Advances for Prepaid Loans $18,880.59 $0.00
Payahead Account
Beginning Payahead Account Balance $10,910.02
Additional Payaheads 12,211.50
Payahead Draws 22,632.42
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Ending Payahead Account Balance $489.10
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