Hyundai Auto Receivables Trust 2022-C
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Monthly Servicing Report
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Collection Period
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July 2024
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Distribution Date
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08/15/24
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Transaction Month
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21
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30/360 Days
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30
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Actual/360 Days
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31
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I. ORIGINAL DEAL PARAMETERS
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Cut off Date:
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October 4, 2022
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Closing Date:
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November 9, 2022
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Dollars
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Units
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WAC
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WARM
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Original Pool Balance:
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$
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1,706,688,347.89
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73,607
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3.85
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%
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56.52
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Original Adj. Pool Balance:
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$
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1,523,088,772.73
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Amount
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% of Pool
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Note Rate
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Final Payment Date
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Class A-1 Notes
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Fixed
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$
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286,000,000.00
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16.758
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%
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4.45000
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%
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November 15, 2023
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Class A-2-A Notes
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Fixed
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$
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437,400,000.00
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25.629
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%
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5.35000
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%
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November 17, 2025
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Class A-2-B Notes
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Floating
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$
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100,000,000.00
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5.859
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%
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SOFR + 0.78
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%
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November 17, 2025
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Class A-3 Notes
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Fixed
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$
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487,400,000.00
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28.558
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%
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5.39000
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%
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June 15, 2027
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Class A-4 Notes
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Fixed
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$
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101,100,000.00
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5.924
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%
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5.52000
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%
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October 16, 2028
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Class B Notes
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Fixed
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$
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27,420,000.00
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1.607
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%
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6.06000
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%
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October 16, 2028
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Class C Notes
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Fixed
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$
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45,670,000.00
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2.676
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%
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6.23000
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%
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June 15, 2029
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Total Securities
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$
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1,484,990,000.00
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87.010
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%
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Overcollateralization
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$
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38,098,772.73
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2.232
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%
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YSOA
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$
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183,599,575.16
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10.758
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%
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Total Original Pool Balance
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$
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1,706,688,347.89
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100.00
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%
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II. POOL BALANCE AND PORTFOLIO INFORMATION
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Beginning of Period
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Ending of Period
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Change
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Balance
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Note Factor
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Balance
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Note Factor
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Class A-1 Notes
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$
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-
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-
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$
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-
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-
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$
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-
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Class A-2-A Notes
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$
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38,634,590.00
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0.0883278
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$
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12,786,413.66
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0.0292328
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$
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25,848,176.34
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Class A-2-B Notes
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$
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8,832,782.35
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0.0883278
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$
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2,923,277.01
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0.0292328
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$
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5,909,505.34
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Class A-3 Notes
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$
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487,400,000.00
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1.0000000
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$
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487,400,000.00
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1.0000000
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$
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-
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Class A-4 Notes
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$
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101,100,000.00
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1.0000000
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$
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101,100,000.00
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1.0000000
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$
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-
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Class B Notes
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$
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27,420,000.00
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1.0000000
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$
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27,420,000.00
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1.0000000
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$
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-
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Class C Notes
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$
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45,670,000.00
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1.0000000
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$
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45,670,000.00
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1.0000000
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$
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-
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Total Securities
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$
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709,057,372.35
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0.4774829
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$
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677,299,690.67
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0.4560971
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$
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31,757,681.68
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Weighted Avg. Coupon (WAC)
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3.96
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%
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3.97
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%
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Weighted Avg. Remaining Maturity (WARM)
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37.39
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36.52
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Pool Receivables Balance
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$
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827,380,593.57
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$
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791,632,128.40
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Remaining Number of Receivables
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55,118
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54,101
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Adjusted Pool Balance
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$
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750,942,313.60
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$
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719,184,631.92
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III. COLLECTIONS
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Principal:
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Principal Collections
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$
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34,844,682.11
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Repurchased Contract Proceeds Related to Principal
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$
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-
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Recoveries/Liquidation Proceeds
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$
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482,209.56
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Total Principal Collections
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$
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35,326,891.67
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Interest:
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Interest Collections
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$
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2,703,296.07
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Late Fees & Other Charges
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$
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67,296.75
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Interest on Repurchase Principal
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$
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-
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Total Interest Collections
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$
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2,770,592.82
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Collection Account Interest
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$
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141,716.76
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Reserve Account Interest
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$
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33,412.62
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Servicer Advances
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$
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-
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Total Collections
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$
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38,272,613.87
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IV. DISTRIBUTIONS
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Total Collections
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$
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38,272,613.87
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Reserve Account Release
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$
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-
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Reserve Account Draw
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$
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-
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Total Available for Distribution
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$
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38,272,613.87
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Amount Due
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Interest Pymt Due but unpaid from prior periods
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Amount Paid
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1. Servicing Fee @1.00%:
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Servicing Fee Due
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1.00
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%
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$
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689,483.83
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$
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-
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$
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689,483.83
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689,483.83
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Collection & Reserve Account Interest
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$
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175,129.38
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Late Fees & Other Charges
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$
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67,296.75
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Total due to Servicer
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$
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931,909.96
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2. Class A Noteholders Interest:
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Class A-1 Notes
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$
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-
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$
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-
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Class A-2-A Notes
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$
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172,245.88
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$
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172,245.88
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Class A-2-B Notes
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$
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46,529.06
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$
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46,529.06
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Class A-3 Notes
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$
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2,189,238.33
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$
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2,189,238.33
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Class A-4 Notes
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$
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465,060.00
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$
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465,060.00
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Total Class A interest:
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$
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2,873,073.27
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$
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2,873,073.27
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2,873,073.27
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3. First Priority Principal Distribution:
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$
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0.00
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$
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0.00
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0.00
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4. Class B Noteholders Interest:
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$
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138,471.00
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$
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138,471.00
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138,471.00
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5. Second Priority Principal Distribution:
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$
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0.00
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$
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-
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0.00
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6. Class C Noteholders Interest:
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$
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237,103.42
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$
|
237,103.42
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237,103.42
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Available Funds Remaining:
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$
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34,092,056.22
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7. Regular Principal Distribution Amount:
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31,757,681.68
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Distributable Amount
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Paid Amount
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Class A-1 Notes
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|
$
|
-
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|
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|
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Class A-2-A Notes
|
|
|
$
|
25,848,176.34
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|
|
|
|
|
|
|
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Class A-2-B Notes
|
|
|
$
|
5,909,505.34
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Class A-3 Notes
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|
$
|
-
|
|
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|
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|
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|
Class A-4 Notes
|
|
|
$
|
-
|
|
|
|
|
|
|
|
|
|
Class A Notes Total:
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|
$
|
31,757,681.68
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$
|
31,757,681.68
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|
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Class B Notes Total:
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$
|
-
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$
|
-
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Class C Notes Total:
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$
|
-
|
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$
|
-
|
|
|
|
|
|
|
|
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|
Total Noteholders Principal
|
|
|
$
|
31,757,681.68
|
|
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$
|
31,757,681.68
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8. Required Deposit to Reserve Account
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0.00
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9. Trustee Expenses and Asset Representations Reviewer Expenses
|
|
|
|
0.00
|
|
|
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|
|
|
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|
10. Remaining Available Collections Released to Certificateholder
|
|
|
|
2,334,374.54
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
V. YIELD SUPPLEMENT OVERCOLLATERALIZATION AMOUNT (YSOA)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning Period Required Amount
|
|
|
$
|
76,438,279.97
|
|
Beginning Period Amount
|
|
|
$
|
76,438,279.97
|
|
Current Period Amortization
|
|
|
$
|
3,990,783.49
|
|
Ending Period Required Amount
|
|
|
$
|
72,447,496.48
|
|
Ending Period Amount
|
|
|
$
|
72,447,496.48
|
|
Next Distribution Date Required Amount
|
|
|
$
|
68,566,472.84
|
|
VI. RESERVE ACCOUNT
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reserve Percentage of Initial Adjusted Pool Balance
|
|
|
|
0.50
|
%
|
Beginning Period Required Amount
|
|
|
$
|
7,615,443.86
|
|
Beginning Period Amount
|
|
|
$
|
7,615,443.86
|
|
Current Period Release to Collection Account
|
|
|
$
|
-
|
|
Current Period Deposit
|
|
|
$
|
-
|
|
Current Period Release to Depositor
|
|
|
$
|
-
|
|
Ending Period Required Amount (0.50% of APB of cut-off date)
|
|
|
$
|
7,615,443.86
|
|
Ending Period Amount
|
|
|
$
|
7,615,443.86
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
VII. OVERCOLLATERALIZATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overcollateralization Target
|
|
|
2.75
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overcollateralization Floor
|
|
|
2.75
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning
|
|
|
Ending
|
|
|
Target
|
|
Overcollateralization Amount
|
|
|
$
|
41,884,941.25
|
|
|
$
|
41,884,941.25
|
|
|
$
|
41,884,941.25
|
|
Overcollateralization as a % of Original Adjusted Pool
|
|
|
2.75
|
%
|
|
2.75
|
%
|
|
2.75
|
%
|
Overcollateralization as a % of Current Adjusted Pool
|
|
|
5.58
|
%
|
|
5.82
|
%
|
|
5.82
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
VIII. DELINQUENCY AND NET LOSS ACTIVITY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Delinquent Receivables
|
|
|
Units Percent
|
|
|
Units
|
|
|
Dollars Percent
|
|
|
Amount
|
|
Current
|
|
|
98.68
|
%
|
|
53,389
|
|
|
|
98.05
|
%
|
$
|
776,233,058.18
|
|
30 - 60 Days
|
|
|
0.99
|
%
|
|
538
|
|
|
|
1.44
|
%
|
$
|
11,368,345.93
|
|
61 - 90 Days
|
|
|
0.26
|
%
|
|
143
|
|
|
|
0.42
|
%
|
$
|
3,347,390.30
|
|
91-120 Days
|
|
|
0.06
|
%
|
|
31
|
|
|
|
0.09
|
%
|
$
|
683,333.99
|
|
121 + Days
|
|
|
0.00
|
%
|
|
0
|
|
|
|
0.00
|
%
|
$
|
-
|
|
Total
|
|
|
54,101
|
|
|
|
|
|
|
$
|
791,632,128.40
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Delinquent Receivables 30+ Days Past Due
|
Current Period
|
|
|
1.32
|
%
|
|
712
|
|
|
|
1.95
|
%
|
$
|
15,399,070.22
|
|
1st Preceding Collection Period
|
|
|
1.21
|
%
|
|
668
|
|
|
|
1.79
|
%
|
$
|
14,845,902.00
|
|
2nd Preceding Collection Period
|
|
|
1.13
|
%
|
|
633
|
|
|
|
1.62
|
%
|
$
|
13,975,825.41
|
|
3rd Preceding Collection Period
|
|
|
1.01
|
%
|
|
575
|
|
|
|
1.47
|
%
|
$
|
13,232,375.14
|
|
Four-Month Average
|
|
|
1.17
|
%
|
|
|
|
|
|
|
1.71
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of 61+ Delinquency Receivables Balance to EOP Pool Balance
|
|
|
0.51
|
%
|
|
|
|
Delinquency Percentage exceeds Delinquency Trigger of 9.6% (Y/N)
|
|
|
No
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Repossession in Current Period
|
|
|
39
|
|
|
|
|
|
|
$
|
1,002,285.37
|
|
Repossession Inventory
|
|
|
84
|
|
|
|
|
|
|
$
|
2,129,933.00
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current Charge-Offs
|
Gross Principal of Charge-Offs
|
|
|
$
|
903,783.06
|
|
Recoveries
|
|
|
$
|
(482,209.56
|
)
|
Net Loss
|
|
|
$
|
421,573.50
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of Current Net Loss to Beginning Pool Balance (annualized)
|
|
|
|
0.61
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average Pool Balance for Current Period
|
|
|
$
|
809,506,360.98
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of Current Net Loss to Average Pool Balance (annualized)
|
Current Period
|
|
|
|
0.62
|
%
|
1st Preceding Collection Period
|
|
|
|
0.58
|
%
|
2nd Preceding Collection Period
|
|
|
|
0.50
|
%
|
3rd Preceding Collection Period
|
|
|
|
0.93
|
%
|
Four-Month Average
|
|
|
|
0.66
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cumulative Charge-Offs
|
|
|
Change in units from prior period
|
|
|
Cumulative Units
|
|
|
Cumulative Amount
|
|
Gross Principal of Charge-Offs
|
|
|
48
|
|
|
|
864
|
|
|
$
|
18,707,564.60
|
|
Recoveries
|
|
|
34
|
|
|
|
601
|
|
|
$
|
(7,810,941.98
|
)
|
Net Loss
|
|
|
$
|
10,896,622.62
|
|
Cumulative Net Loss as a % of Initial Pool Balance
|
|
|
|
0.64
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Loss for Receivables that have experienced a Net Loss *
|
|
|
42
|
|
|
|
780
|
|
|
$
|
10,896,622.62
|
|
Average Net Loss for Receivables that have experienced a Net Loss
|
|
|
$
|
13,970.03
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Principal Balance of Extensions
|
|
|
$
|
4,900,433.68
|
|
Number of Extensions
|
|
|
|
234
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Excludes receivables with recovered amounts equal to or in excess of principal charge-offs due to the recovery of assessments, such as interest and fees.
|