Full text of G.20 Sales Finance Companies : April 3, 1963
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FEDERAL statistical RESERVE release "%5u tofv"' April 3, 19S3 G.20 SALES/FINANCE COMPANIES r. • ;.. --'Fr,B'iUARY 196? Consumer instalment credit at sales finance companies decreased $131 million in February to a total of $12,550 million. Retail paper on non-automotive consumer goods declined $1 0 million, while other types of instalment credit outstanding showed only small changes. Total extensions, at $844 million, were $140 million below the January total. Extensions of personal loans were unchanged from January, but extensions of all other types of consumer instalmen credit declined. Sales finance companies financed 114 thousand new and 176 thousand used cars at retail, compared with 125 thousand and 193 thousand in the preceding month. Business credit expanded $180 million, with a rise in wholesale automotive receivables accounting for most of the increase. Total business credit outstanding at month-end totaled #5,503 million. Outstanding Credit Held by Sales Finance Companies (In millions of dollars) Type of credit Consumer instalment credit Retail automotive (passenger cars) Other consumer goods paper Repair and modernization loans Personal loans Business credit 1/ Retail automotive (commercial vehicles) Wholesale automotive Wholesale other than automotive Other business credit * Increase or decrease during Feb. Year ended Feb. 28,: Feb. 1962 Feb. 28, 1963 1963 i 1963 12,550 7,477 3,440 165 1,468 j *-151 + 6 - 2 + 5 -107 9 4 + + + + 732 197 3 257 + 569 *-140 |-102 0 + +1,189 5,503 +180 +143 653 1,788 368 2,694 + 7 +149 + 32 + 1 +103 + 11 + 28 127 167 56 219 January figure for other consumer goods paper revised from $3,603 million to $ 3,580 million. . ,, l/ Excludes some credit extended to business, such as that extend y factoring subsidiaries. G..20 - 2 Credit Extended by Sales Finance Companies (in millions of dollars) Feb. 1963 Type of credit Consumer instalment credit Retail automotive (passenger car) Hew Used Other consumer goods paper Repair and modernization loans Personal loans Business credit 1J Retail automotive (commercial vehicles) New Used ... .. . Wholesale automobile paper New (passenger and commercial) Used (passenger and commercial) Wholesale other than automotive Other business credit 1/ Change from: Month Year ago ago 844 *-140 + 56 523 - 52 + 48 311 212 - 29 - 23 + 35 + 13 159 6 156 *- 8? - 1 0 - 20 - 2 + 30 1,698 -127 +239 60 + 2 + 12 45 15 + .+ 1 1 + 10 + 2 1,219 1,159 60 105 314 -112 -103 - 9 ' +185 . +198 - 13 + 3 - 20 + 8 + 34 * January figure for other consumer goods paper revised from 3255 million to $246 million. l/ Sxcludea some credit extended to business, such as that extended by factoring subsidiaries. G.20 Number of Motor Vehicles Financed by Sales Finance Companies (in thousands) Type of vehicle Total financed at retail New passenger Used passenger New commercial Used commercial Total financed at wholesale New (passenger and commercial) Used (passenger and commercial) February 1963 Change from; Year Month ago ago 312 z29 114 176 12 10 -11 -17 - 2 + 1 ±_I +10 - 3 0 0 493 *-42 +48 441 52 *-35 *- 7 +65 -17 Credit Sales of New Passenger Cars as a Per Cent of Total Number Sold at Retail l/ Credit sales 1963 - February January 1962 - February Per Cent 56 57 57 1/ Based on new car instalment contracts acquired by banks, sales finance companies, other financial institutions, and automobile dealers. Data for prior months may be obtained by writing to the Division of Research and Statistics, Board of Governors of the Federal Reserve System, Washington 25, D.C. * January figure for total financed at wholesale revised from 529 thousand to 535 thousand, new from 473 thousand to 476 thousand and used from 56 thousand to 59 thousand.