Full text of G.20 Sales Finance Companies : July 31, 1944

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DEPARTMENT OF COMMERCE

Current
Statistical
Service

BUREAU OP' THE CENSUS

SALES FINANCE COMPANIE&
JUNE 1944 Q. a "i"#

\

Sales finance companies reported a gain of 7 percent in the number of new passenger cars financed
in June 1944 compared with the number financed the preceding month,and the dollar volume of paper acquired
in this type of financing increased 10 percent,according to an announcement released today by J. C. Capt,
Director of the Census. A small (2%) increase in the number of used passenger cars financed was reported,
along with a dollar volume up slightly (3%).
Thirty-five percent fewer new commercial vehicles were
financed in June than in Ma,y this year,and the ·value of this paper was 12 percent less than that recor.ded
in MB¥• The number of used commercial vehicles was down slightly (2%),but the dollar volume of such paper
rose 9 percent. Data contained in this report are based on a sample survey conducted by the Bureau of the
Census.
·
The volume of retail automotive outstanal."'gS
was 6 percent larger than that reported at the end of
from 14 for May this year to 15 for June.
INC:EX

r---------,--

20 0

held by sales finance companies orl June 30, 1944
1944.
The index for these outstandings rose
·

May

OUTSTANDING BALANCES
RETAIL AUTOMOTIVE FINANCING
DECEMBER 31 , 1939 = 100

----------- r----------i

1001-----i--

50

-----

1941

-

--

j

-f

--

19 42

1943

19 44

Of the wholesale automotive paper acquired by sales finance companies during June 1944,the vol.uJue for new passenger and comlliercial cars was 11 percent higher than that· reported for Ma,y 1944, while
the volume for used passenger and commercial cars dropped back 16 percent.
The volume of outstanding
balances for Uiis type of paper showed a 4 percent decrease from .that held at the end of May 1944.
_
. For June 1944 compared with Ma,y 1944, in retail diversified financing, residential building
repairs and ~dernization registered a gain of 16 percent in paper acquired; refrigerators and household
appliances gained 12 .percent; while furniture, radios, and musical instruments dropped back 7 percent.
ThEf financingofwhol,~sa.D (other than automotive) increased 25 pucerit,but paper acquired for industrial,
commercial,. and flirm equipment was down 8 percer.t.
•

•

•

'.:.

;

-

. ' <.

~ ~· ~
•• ' ·

Diversified outstanding balances held by sales finance companies at the end of June 1944 were
'increased slightly (2%) for industrial, convnercial, aqd farm equipnent, were virtually unchanged for
retail--other consumers' goods, and were down slightly (2%) for wholesale--other than automotive. The
index for total sales financing in June 1944 (table 1, p. 2) showed no change from MB¥ this year, ~e­
maining at 19.
Paper acquired during June 1944 was 32 percent of the outstanding balances as of June 30, 1944
for wholesale--other than automotive, 31 percent for wholesale automotive, 21 percent for retail automotive, 12 percent for retail--other consumers' goods, and 8 percent for industrial, commercial, and farm
equipment.
·
These data on the current trends or sales financing during June 1944 were based on reports
from 196 sales finance companies, and the dollar "Olumes should not be assumed to represent the total
amount of financing by all sales finance companies in the United States.
The data are published as reported, without adjustments for seasonal.or price fluctuations. The figures presented in tables 4, 5,and
6 of this release are not comparable to those published for previous months, since monthly reports have
not been received each month from identical sales finance companies. All indexes for June we~e obtained
by calculating the percent changes from MB¥ 1944 to June 1944 as shown by data on reports for both months
from the same sales finance companies, and by linking these percentages to the indexes previously derived
for May 1944.




Page 2

SALES

F~NCE

OOMPANIES

'table !.-Automotive and Diversified FinanciJIC

Index of Trends in Outstanding Balances by Class of Paper
December 31, 1939 • 100

Date

1939 - Dec. 31 •••••••

Total
all
8etail
sales
automotive
financing
100

Wholesale
Retail
other
other
than
consumers'
autcmotive
goods

Wholesale
autoliotin

100

!I

100

100

100

Industrial,
C011118rc1al.,
and farm
equipmant
100

(

1940 -Dec. 31 •••••••

136

132

169

140

129

1941 - Dec. 31•••••••

152

149

175

250

148

147

31 •••••••

53

37

112

40

76

81

1943 - June 30 •••••••
·- July Sl••• ••••
-Aug. Sl •••••••
- sept.so., •••••
- Oct. s1 •••••••
-Novo SO ••••• ~.
-Dec. s1•••••••

27
25
23
22
21
20
20

16

63

115
115
14
14
14
13

159
52
47

11
10
8
8
7
7
8

44
40
38
36

1944 - Jan.
- Feb •.
-Mar.
-·Apr.
- Ua7

19
18
18
18
19·
19

1942-

nee.

31 •••••••
29 •••••••
31•••••••
so•••••••
31 •••••••

- June 30 •••••••

45

42
40

10
10
12
11
11
11

38

l3
l3

37
S7
'37
S6
34

13
l3

14
15
..

34

32
30
29
27
26
25

-

24
24

131

«

41
39
S6
3S
35
27

26
Sl
30
Sl
S2
32

!f Indme aa of December Sl tor the 7Mra ot 1939, 1940. and 1941 are baaed on figures reported b7
- sales finance companies on a aupplementaey report form which accompanied .the regular mnthl,r report tom tor Januaey 1942. Succeeding indexes are derived by calculatinl the percent chaniea of
the outstanding balances reported b7 sales finance companies tor each .mth tram those reported
by the same ccmapaniea tor the preceding month, and b7 l1nld.ng these percentages to the indeaa
tor the preceding month •

.Table 2.-Balative Importance of Loans Made b7 Sales Finance Ccmapaniea, June 1944
VolWIIIB ot Paper Acquired During the llonth and Outstanding Balances at the End of the llonth
Outstanding balances,
end ot month

Pa.Per acquired
during month
Class ot paper

Amount

Percent
ot

Percent
Amount

total

ot
total

Total, all classes ot paper !/·~··••••

$72 587 852

'100

$227.927.769

Total loan&•••••••••••••••••••••••••

35.457.483
5,585,995
29,871,488

~

8
41

67.043.072
28,.283,316
38,759,756

~
12

37,130,369

51

160,884,697

71

Small (personal) loan•••••••••••••
Busineaa loans••••••••••••••••••••
Total aa~ea financing
Bureau of the Census

!/

!/••••••••••••

100-

17

Qurrent Statistical Service

Included in this claaeitication are only_ those til"'U which, in addition to their sales financing
operations, reported loan activities.




e
e

Page 3
~LES

I

FINANCE COMPANIES

Table 3.-Automoti'Ve and Diversified Financing
Index or Trends t 1943-1944 !I
Januar7 1942 ='100·
1944

1943

....

J;tem

.,.§

~

i

~
U)

.

~
0

i
z

.

0

r!l

.

~ :.

.a

;. :;:1

..."'c. :1 .,.§

i

·RETAIL AUTOIDTIVE
Total number or cars financed•••••••••••••••••••••••••
Total volume of paper acquired••••••••••••••••••••••••

34 33 34 33 29 28 26 23 26 32 31 39 .39
36 3{5 39 37 33 32 32 28 31 36 36 49 51

23 19 lB ll ll 6
Paper acquired ••• 26 23 22 14 13 10

New passenger cars ••••••••••••••••• Number •••••••••••

6 6
6 lO

6
8 -9

6

9 9
6
8 l2 13

8 l2 ., '10 14
9 1.1! 13 ll liS

13

37 35 36 36 31 Sl. 32 26 29 36 3IS 44
Paper acquired ••• 42 4l 44 44 38. 38 38 83 38 47 47 eo

45
62

10 13 13 6 14 9 10 8 8 10 9 12
lB 20 22 12 27 l9 2'1 l6 l8 l9 17 24

12

New commercial cars •••••••••••••••• Number•••••••••••

1.3

Paper acquired. , • 15

9 9 25 20 17
9 11 18 13 l2

IS

8

Used passenger cara ................. Number •••••••••••
Used commercial car&•••••••••••••••Number •••••••••••

Paper acquired •••

'

9

26

WIDLESALE AUTOWTIVE
(Paper acquired)
Total volume of paper acquired••••••••••••••••••••••••

New cars (passenger and commercial) •••••••••••••••••

Used cars (passenger and

~ommercial) ••••••••••••••••

9 10

9

9 10

9

9 ll 12 liS 17 16

4

4

3

2

2· 4

3

3

3

3

16

6

4

5

33 47 37 39 50 50 46 50 64 77 79

sa

74

30 4l 32 30 34 27 29 35

37

42 39 42 47 4l 49 42 37 36 34 35 44

47

DIVERSIFIED F.DWI~ING
(Paper acquired.
T9tal diversified tinancing•••••••••••••••••••••••••••

Total retail, other consumers' goods••••••••••••••••

31

26

30

33

Furniture, radios, musical instruments •••••••••••• 3., 28 26 23 27
Retrigerai.ors and other household

appliances.~ ....

24 26 30 2l 21 20 23,

26 15 14 l2 12 liS

9 16

9 ll 16 1!5

21

17

Residential building repair and modernization ••••• 77 81 69 94 92 ll5 100 69 73 74 77 l l l 129
Miscellaneous

retail••••••••••····~··•••••••••••••

2

7

4.

4

Industrial, commercial, and farm equipment.,,,,,,,,, 37 22 26 27 38 157 54 54 194 70 69 74

66

Bureau of the Census

!I

e

3

2

2

2

2

2

4

3

58

3

Total wholesale, except automotive••••••••••••••••••

e

87 78 66 125 75 94 75 60 88 64 65 66

Current Statistical Service

Indexes are derived b,v calculating the percent changes in the number of cars financed or the volume ot
paper acquired b,y sales finance companies during each month from the number of cars financed or the volume
of paper acquired b7 the same companies during the preceding month, ·and b7 linking these percentages to
_the indexes for the preceding month. The indexes tor "Total retail autOJDOtive." "Total wholesale automotive," and "Total retail, other consumsrs' goods" are based on all figures reported tor these items regardless of whether or not breakdowns could be supplied.




r

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,.?'*''?<·'* .... '· 1V2ijj ... ,

,*'f!.O".* -t. iH%

,J.QSJG&!J!,AHP!!AW-~ttyz;;zt.%#4,4?4

0 33M

.·

442

.)

:a xw:scc;n

c;;e_.. ,,..,.

,.,_ ;;:;;:;

r

('ap'

--

Table ,.-.a.utoiaotin ancl Dinraitied financiJI&
V9l- ol Paper Acquired IJuri.Dc JuDe ·J.9.W ancl Balance• Outete.ncliDi JuDe 30,
toJ.u. ~~r paper tered
dur lrur JWUI
"
B.r companiea
JIT.U
report. in&
ccxrq:aniee
outeW:~
report in&
balanc,e a

Qla•• ol paper

Total retail automotive •••••••••••••••••••••
Total wholesale automotiY8••••••••••••••••~•

Total wholesale - other than automotive •••••
Total retail - other COD8UMre 1 goode.~ ••• •.
Indwltrial, COIIIIII!Irci&l, ancl tara equipment·••

Total salea tiDanciDI•••••••••••••

$26:372,4'75.
16,976,773
. 258,416
5,323,220
480 1 :Sll

$25,920,381
l6,925,l39

$49,4ll,l95

].9jj

QutetandiJ!g
balancu

.rw. ao,
l~!f

{latio paper
acquired to
·aut·~
balancee b

6,223,432
4761703

$l2l,l08,l85
55,o:'ll,375
741.,157
j2,810,763
&1l3l 1 806

..!

$48,781,336

$226,823,286

22

~5,880

'

2l
31
32
12

!I Data a"' based em figures

"9/

bca ealee tinanoe COIIIp&lliee able to report both their paper acquired ancl their
outat.alldiJl8 balancea.
..
·
Batioe obtained b7 di:ridiJI& paper acquirltd (coJ.u.l 2) b7 outet.aDdin& balan- (colual a) •.

tlumber ot can

Table 15.-.A.utomot.in Fil!anciDI
.
ancl VoJ.u. ol Paper Acquired DuriDg JuDe lgjj

~ced

llumber ol oere
Ql&ee or paper
llumber
'

Total retail aut()IX)tift •••••.••••••••••• ~ •••

47.223

carli~ •••.•••••••• .-; •••••••••

l,ll7
2l4

Hew Pa8•eacer

In COJDID8rcial can ••••••••••••••••••••• •

Paper acquired

1.QQ
2

'9/

Used :r:asaqer·car••••••••••··--·•••••••••
e&r•• • •. • • • • •• •. • ••••• t~ • •

. 4S,l80
712

96
2

TOtal wholesale automotiY8•••••••••••••••••

191483

lOO

lew cere (paeeeuger ancl COIIIIII!Ireial) ••••• •

6,179
13,304

32
68

Used COJDD8rcial

Used cere (peaaeuger and c-rcial) •••••

Dollar

wa-

Percent
ot
total

l26.027.&8l. .!

1.QQ

1,128,599
650,471
u, 74.1.,231
506,980

4
3
91
2

Percent.
ol
total

1!4.206.223 !I

1QQ

4,165,263
l0 1 0l9 0 970

29
71

!f Data are based em reports tl'OIII ealee finance ccxrq:aniee pro'ridiJI& a breakdown of their retail and wholeeale
aut01110t.ive tinanciJI&. These &IIIOUIIte are lese than those reported iD table 4 due .to the ucl.uaioD ot data tor which breakdo18111 were not a'ft.ilable.
gj Lees t.ban 0.5 percent.

a

'fable 6o~Diftreitied PillanciJI&

.Volume ot Paper Acquired DuriD& June. J.9.W
Dlaee

oi

paper

.,

Jlloll&r vol.uM

Peroent
ot
total

Be tail - other

COJI81lMl'B 1 . goode:
.
Furniture, radioa, pianoe,and other 11111icel inet.rll!llln1!••·
Refrigerators and other houeeholcl appl.iaDcee •••••••••••••
Residential bu1Jd1ug repair and IIDCiernisatiem........... ..

llillcellaneoua. retail •••••••••••••••••••••• ~ ••• ·••••••• • •••.
Total retail- otber canaumer•' sooda••••••••••••••••••••••••
Total wholesale- otber than automot1Y8••••••••••••••••••••••

In<iuetrial, c011111ercial, ancl tana equiJl11181lt.• •••••••••••• • • ••••
Total dinraitied tillaiiCiJI& ••••••••••••

Bureau ol the CeDBWI

$673,376
234,082
3,540,354
861.769

ll
4
69

!!

$6 1 309 1 571 !/
268,416
480.3ll
$6,048,298

88
4

..!
100

CurreDt Statiat.ical Senioe

!/Data are based on reports t1'ola alee finance companies proridiJI& a 'breakdowa ol their retail tinanciDI ol
other coneUII8re• goode. This &IIIOUIIt 1e lese than that reported iD table 4 due to the ucl.uaiem ot BOlla
data tor which breakcklwna were not aw.Uable.