Full text of G.20 Sales Finance Companies : August 5, 1968

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FEDERAL
statistical

RESERVE

release

£

"MR. WAU3CQ.IG. 20

August 5, 1968
SALES FINANCE COMPANIES

S5

JUNE 1968

-5

Sales finance companies registered greater than seasonal increases in
consumer instalment credit outstanding during June, reflecting, in part, repayments
receding from high May levels. Extensions'were also down somewhat from May,
especially for passenger cars.
The second quarter of 1968 as a whole proved much stronger for sales
finance companies than the same quartet of the preceding year. Consumer instalment
credit outstanding increased $395 million in the second quarter of this year, with
passenger car paper accounting for 67 per cent- of that gain. In contrast, the
second quarter of 1967 showed an increase of $128 million. More paper also was
acquired this quarter than in 1967, with the exception of repair and modernization
paper.
• ,
,
A similar pattern appears in a comparison of the first half of 1963
with the first half of 1967. Outstandings increased in the first half of this
year whereas declines were registered in 1967. Extensions rose for all categories
except repair and modernization.
Business credit outstanding climbed $411 million in June with the
bulk of the increase accounted for in the wholesale automotive area.
Outstanding Credit Held by Sales Finance Companies
(In millions of dollars)
Type of credit

Consumer instalment credit
Retail automotive (passenger cars)
Other consumer goods
Home repair and modernization
Personal loans
Business credit If
Retail automotive (commercial
vehicles)—
Wholesale automotive
Wholesale other than automotive
Other business credit

June 30,
1968

Increase or decrease during
Year ended
June 30, 1968
1968
1967
203

106

126
55
1
23

88
10
1
7

ill

- 37

1,247

15
253
5
138

14
- 49
- 12
10

14
635
152
446

17,095
9,130
5,028
82
2,855

-

8,903

1,085
3,429
710
3,679

.

374
. -

108
267
24
239

1/ Excludes some credit extended to business, sudh as that extended by factoring
subsidiaries.




1

G. 20
Credit Extended by Sales Finance Companies
(In millions of dollars)

Type'of credit

Consumer instalment credit
Retail automotive (passenger cars)
New
UsedOther consumer goods
Home repair and modernization
Personal loans
Business credit 1/
Retail automotive (commercial vehicles)

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

T

Change from:
Year
Month
ago
ago

1968

- 23

1,350
688

- 15

-_16

475
213

- 3
- 12

- 12
„ - 4

381
2
279

8
2/
2/




-

9
7
15

2,919

-255

113

- 17

-

1

-

-

1
2

90
23

8
9

507

1,923

-192

249

1,877
46

-186
- 6

261
- 12

- 34
- 12

27
232

171
712

-

-'1/Excludes some credit extended to business, such as that extended by
factoring subsidiaries.
•2/Less than 0.5 million dollars.

- 17

.

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)




1968

Change
Month
ago

Year
ago

357

26

,15

149
172
25
11

- 2
29
1
- 2

-12
25
1
1

661

-72

65

,628
33

-70
- 2

76
-11