Full text of G.20 Sales Finance Companies : August 4, 1959
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. Yf^.aXJjL Z y l' BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM G.20 SALES FINANCE COMPANIES June 1959 Augu s t4...r^155 9" • ' • " . 0, x ' ' * - ./ r % 1 I I " ' \ ?,>;y : Sales finance company holdings of retail passenger car instalment paper continued to expand in June as outstandings increased $205 million. Holdings of other consumer instalment paper increased $4-2 million during the month. Retail passenger automobile contracts acquired during June numbered 175 thousand new and 269 thousand used for a total dollar volume of 772 million, the largest for any month since August 1955- Compared with a year ago about 100 thousand more contracts were purchased. Wholesale automotive paper outstanding increased $33 million and at the month-end was $425 million above a year ago. All other types of business credit increased $49 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 1 i Increase or decrease during: June 30, j June June Year Ended . 1959 i 1959 .1958 +261 - 24 +245 6,88k +205 - 44 1,647 1 + 42 + 12 + 1 0 23 + 13 + 8 796 + 40 +115 + 3 + 87 2JS2 3.419 + 82 -120 .tM 530 1,891 134 864 + 23 - 4 + 33 -115 + 3 - 2 + 23 + 1 + 49 +425 + 30. +155 l/ Excludes some credit extended to business, such as that extended by factoring subsidiaries. G.20 - 2 - Credit Extended by Sales Finance Companies (In millions of dollars) Type of credit June JS5SL Change from: Month ago Consumer instalment credit Retail automotive (passenger cars) New Used Other consumer goods paper Eepair and modernization loans Personal loans Business credit l/ Retail automotive (commercial vehicles) New Used +101 Wholesale automotive paper New (passenger and commercial) Used (passenger and commercial) Wholesale other than automotive Other "business credit l/ l/ Excludes some credit extended to business, such as that extended by factoring subsidiaries. - 3 - a.20 Number of Motor Vehicles Financed by Sales Finance Companies (in thousands) Type of vehicle June 1959 Change from: Year Month ago ago Total financed by retail New passenger Used passenger New commercial Used commercial 475 175 2b9 18 13 +49 +30 +16 + 2 + 1 +106 T"Z0 + 4o + 6 0 Total financed at wholesale New (passenger and commercial) Used (passenger and commercial) 54% +33 +31 + 2 +198 +177 + 21 88 Credit Sales of Hew Passenger Cars as a Per Cent of Total Number Sold at Retail 1/ Credit Sales 1959 - June May 3.958 - June Per Cent 60 56 62 l/ 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.