Full text of G.20 Sales Finance Companies : April 6, 1964

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FEDERAL
statistical

RESERVE

release

L I B R A E !

G.20

SALES' HffAKCE COMPANIES

(

April 6, 1964

... X :

FEBRUARY 1)64
Consumer instalment credit at sales finance companies decreased 4)52
million in February to a total of 51$,8 billion. This decline was less than
seasonal, as increases were registered in retail passenger automotive paper and
personal loans. Consumer goods credit other than auto declined §66 million, a
seasonal dip, while repair and modernization loans showed little change.
Total extensions, at $$80 million, were CAO million below the extension:
of the previous month, reflecting small reductions in purchases of retail passenger automotive and other consumer goods paper.
Business credit expanded #24$ million, with a rise in wholesale automotive paper accounting for most of the incre&se.
Outstanding Credit Hsld 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

Feb. 29,
1964

Increase or decrease during:
Year ended
Feb.
Feb.
1963 Feb. 29, 1964
1964

13,788

*- 52

-112.

+1,232

8,227
3,635
154
1,772

+ 7
*- 66
- 2
*+ 9

+ 6
-121
- 2
+ 5

+
+
+

750
189
11
304

6,162

+245

+180

+

659

763
2,142
445
2,812

+ 3
+181
+ 28
+ 33

+ 7
+149
+ 32
- 8

+
+
+
+

110
354
77
118

*
Other consumer'goods paper outstanding and personal loans outstanding
.for January revised ^-to S3,701 million and ^1,763 million respectively#
l/ Exclude# some credit extended to business, such as^that extended by y
factoring subsidiaries•




G.20-

-2-

Credit Extended, by Sales Finance Companies
(in millions of dollars)

February
1964

Type of credit

Consumer instalment credit
Retail automotive (passenger cars)
New
Used
Other consumer goods paper
Repair and modernization loans
Personal loans
Business credit l/
Retail automotive (commercial vehicles)
New
Used

Change from:
Month
ago

Year
ago

980

*-40

+135

557

-20

+ 34

536
221

-12
- 8

+ 25
+ 9

238
6
179

*-20
- 1
*+ 1

+ 78
0
+ 23

1,957

-27

+259

68

- 2

+

8

50
18

- 3
+ 1

+
+

5
3

+171 :

1,390

Wholesale automotive paper
New (passenger and commercial)
Used (passenger and commercial)
Wholesale other than automotive
Other business credit 1/

1,32 6
64

-92
- 1

+167
+ 4

133
366

+32
+36

+ 28
+ 52

'
*' Other consuner goods paper extended and personal loans extended for
January revised to G258 million and $178 million respectively.
i-

1/ Excludes aono( credit extended to business, such as that extended by
factoring subsidiaries.




-3_

G. 20

Number of Motor Vehicles Financed by Sales Finance Companies
(In thousands)
Change from:
Type of vehicle

February
1964

Total financed at retail

319

New passenger
Used passenger
New commercial
Used commercial

121
173
15
10

Total financed at wholesale
New (passenger and commercial)
Used (passenger and commercial)

Month
ago

Year
ago

±_2
-

4
3
1
1

+ 7
- 3
+ 3
0

_^6

-32

+63

503
53

-32
0

+62
+ 1

Credit Sales of New Passenger Cars as a Per Cent
of Total Number Sold at Retail l/
Credit Sales
1964 - February
?
January
1963 - February

Per Cent
56
r 56
56

r. revised
1j 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 Statis?
tics, Board of Governors of the Federal Reserve System, Washington D. C. 20551*