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DEPARTMENT OF COMMERCE

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Current
Statistical
Service

BUREAU OF THE CENSUS

SALES FINANCE COMPANIES
OCTOBER I943

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_ ~1r~ number of new passenger cars financed by sales finance companies in October 1943 was
of! a'·pfireent from that of September of this year, and the dollar volume of paper acquired in this
type of financing decreased 9 percent, according .to an announcement released today by J, c. Capt,
Director of the Census. The number of used passenger cars financed dropped back 13 percent, and tha
volume of paper acquired was down 12 percent., New commerical vehicles financed declined 21 percent
in number an~ 27 percent in dollar volume of paper acquired, from September of this year. The number
of used commerical cars financed· this October was 124 percent more than the number recorded for the
preceding month, and the dollar volume of paper acquired was up 123 percent. Data contained in this
report are based on a sample survey conducted by the BUreau of the Census.

r•

·
The volume of retail automotive outstandings held .by sales finance companies on October 31,
1943 was slightly (~) less than that reported at the end of September 1943. The index remained at
14 for October this year.
OUTSTANDING BALANCES
RETAIL AUTOMOTIVE FINANCING
DECEMBER 31, 1939 • 100
INDEX

200 ~--------~----~--------------T-------------~

0
1941

1942

1943

Of the wholesale automotive paper acquired by sales finance companies during October 1943,
the volume of new passenger and commerical cars decreased 18 percent from that reported for the preceding month, while the volume of used passenger and commerical cars showed a 29 percent gain. The
volume of outstanqing balances for this type of paper was 6 percent less on October 31 than on
September 30, 1943.
In retail diversified financing, for October this year compared with the preceding month,
furniture, radios, and musical instruments registered a gain of 16 percent, while slight decreasea21> and 3%, respectively--were noted for refrigerators, household appliances and residential building
repairs and modernization. The financing of wholes_ale diversified paper fell back 20 percent from
September 1843, but paper acquired for industrial, commerical, and farm equipment gained 43 percent.

Diversified outstanding balances held by sqles finance companies during October were reduced 5 percent in volume for retail financing of other consumers' goods, 7 percent for industrial,
commerical, and farm equipment, and 9 percent for wholesale diversified financing (other than automotive),
Paper acquired during October 1943 was 15 percent of the outstanding balances as of
October 31, 1943 for retail automotive, 14 percent for wholesale automotive, 19 percent for wholesale--other than automotive, 7 percent f,br retail--other consumers 1 goods, and 6 percent for industrial, commerical, and farm equipment.

'

These data on the current trends of sales financing during October 1943 were based on reports from 203 sales finance companies,and the dollar volumes 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, 6, 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 October were obtained by calculating the percent changes from September to October as shown by
data on reports for both months 1'rom the same sales finance companies,and by linking these percentage
to the indexes previously derived for September 1943.

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,Page 2

(

Table 1.-Autamotive and Dive:rsi!ied Fine.ncing ~\
Index of Trends in Outstanding Balances by Class of Pa~e}
December 31, 1939 = 100
Total
Date

all

sales
financing

i939 ~ Dec. 31 •••••••

100

•
·Retail
automotive

Wholesale
automotive

100

100

!/ -

, Wholesale
Retail
other
other
than
consumers'
automotive. goods
100

·"'·

100

.•

,'

In9-ustrial.,
commercial,
and farm
equipment '

..

•'

-

100

1940- Dec. 31 .••....

1)6

132

169

140

129

Dec. 31 •.•••..

152

149

175

250

148

147

Oct. Jl ... .....
- Nov. 3() ••• ~ •••
-Dec, 31 •.... .•

67

51
44
37

124
118
112

74
52
40

89
83
76

110
64
61

31 •.•••..

48
42
37
33
30
27
25
23
22

31
27
22

107
100
91
·81
70
63
59
52
47
45

34
30
26
24

70

60
55
52
49
46
44
41
39
36
33

1941

~

1942

~

. .r'

.·,.;_ _ ....,_,,, .l

1943 - Jan.
- Feb.
- Mar.
- Apr.
-May
- June

28 •••••..

31 •••••••
30 •••••••

Jl .••••••
JO •••••• ,

- July 31 •••••••

-Aug. 31 ••••••
- Sept.JO •••••••
-Oct. Jl •••••••

60

53

21

20

18
16
15
15
14
14

64

58
52
47.
44
. 40
38
36
34

12
11

10
8
8
7

131

•

!( Indexes as of December 31 for the years of 1939, 1940, and 1941 are based,on figures_ reported by

sales finance companies on a supplementary_ report form which accompanied the regular monthly report form for January 1942. Succeeding indexes are derived by calculating the percent changes of
the outstanding balances reported by sales finance companies for each month from those reported
by the same companies for the preceding month, and by linking these percentages to the indexes
for _the preceding month.

Table 2.--Relative Importance of Loans Made by Sales Finance Companies, October 1943
Volume of Paper Acquired During the Month and Outstanding Balances at the End of the Month

...

.·

Outstanding balances,
end of month
Percent
Amount
of
total

Paper acquired
during month
Percent
Amount
of
total

Class of paper

!f.........

. $60,171,074

100

$245,511,451

100

Total loans ••. .•••..••......•..••......
Small (personal) 'loans •••••••••••••

2!

Business loans ••• .-~·.•••..........•... ~

~~!1~.;1.22
,157,307
31,663,892

8
53

z8 .u~ .668
38,375,615
39,740,053

16

!f.............

23,349,875

39

167,395,783

68

Total, all classes of pape~

_ Total sales financing

~

Current Statistical Service

!/

Included in this classi!i~ation are only those firms which, in addition
operations, reported loan activities. ·

3-351565



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their sales financing

1

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"1

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Page)
SALES FINANCE CQ4PANIES

•

Table ).--Automotive and Diver~ied Fiqaocing
·
Index of. Trends 1 1942-1943 y
January 1942 • 100

Item

1943

1942

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G)

Cl)

8

RETAIL AUTOliD'l'IVE
Total number ot cars financed •• ••••••••••_•••·••••••••• 1
Total ~olume of paper acquired ••••••••••••••••••••••••

32 27 20 18 21 33 36 35 34 33 34 33 29
32 25 19 17 21 35 40 39 38 36 39 37 33

New passenger cars ••.• : ••• , ••.•••• Number •••••••••••••

23 14 10 9 11 ~ '33 30 23 19 18 11 11
26 16 11 11 13 30 39 36 28 23 22 14 13

Paper acquired •••••
Nn commercial cars ••.••••••....• Number ••••.•••••.• -.

Paper acqUired •••••

8
9

6

8

3

4

4
5

5 10 14 11 13
6 13' 15 12 15

9 25 20
9 11 18 13

9

Used passenger cars •••••••••••••• Number •••••••••••••
Paper acquired •••••

34 28 21 19 "22 35 37 36 37 35 38 36 31
34 28 22 l9 23 ·37 41 40 42 41 44 44 38

Used commercial cars •••••••••• : •• Number •••••••••••••
Paper acqui~ed •••••

21'
28

16 12 13 15 15 22 21 10 13 13 6 14
22 17 20 24 24 35 33 18 20 22 12 27

WHOLESALE·AUTOMOTIVE
(Paper· acquired)
./

Tobal volume ot paper acquired ••••••••••••••••••••••••

9

6

5

5

6

9

9

7

9 10

9

9 10

Hew cars (passenger and commercial) •••••••••••••••••

6

5

4

3

3

5

6

4

4

4

3

r-

Used oars (passenger and commercial) ••••••••••••••••

3

3

29 14 13 14 20 31 32 22 33 47 37 39 50

DIVERSIFIED FINANCING
(Paper acquired)

1.

Total diversified financ in.g ••••••••••••••••••••••••• ·•• 46 39 45
Total retatl, other consumers'

goo~s ••••••••••••••••

23 20 23

~

29 31 28 30 33 30

60 52 6o 30 26 28 30 38 42 39 42 47 41

Furniture,radios, pianos, etc., Total ••••••••••••• 47 40 1)1 19 11.. 11) 27 11 11 28 28 23 27
F'u.rni tuN . ....•.•.•............................. 64 55 71 62 48
28 28 23 27
Radios, pianos, other musical instruments ••••••• 33 29 40 16 22 35 27 31 33

•

Refrigera~ors

& other household appliances, Total.
Refrigerators (gas and electric) •••••••••••• : •••
Other household appliances ••••••••••••••••••••••

8 12 18 22 26 11) lL. 12 12
6
28 23 21 14 13 12 18 22 26 15 14 12 12

Residential building repair and modernization •••••

82 64 142 43 35 40 48 54 7l 81 89 94 92

liiscellaneous retail ..................... •-•--. .•...•.

97 87 88 63 51 65 67 101 87 78 86 125 75

-

24 17 11
23 15 11

Total wholesale,. except automotive •••••••••••••••••••• 10

9
7

2

2

Industrial, cammercial, and farm equipment •••••••••••• 40 30 59 42 27 64 41 38 37 22 28 27

3S

6

3

2

3

3

5

5

3

2

2

~

Bureau o the Census

il

y

Current·!tatistical Service

Indexes are derived by calculating t!UI percent changes in the number of cars financed or the volume of
paper acquired by sales finance companies during each month from the number of .cars financed or the volume
of paper acquired by the same companies during the preceding month, and by linking these percentages to
the indexes tor the preceding month.· The indexes tor "Total retail automotive 1 " ''Total wholesale automotive," and "Total retail, other consumers' goods" are based on ail figures reported for these items regardless ot whether or not breakdOwns could be supplied.
3-3~65




·>.'.",·-

I

.

•
Ou.tatandins
balances
October 31,
1943 !I

Clus _of paper

Ratio papw
BCCluired to
outstancU.nc._
bal.ancee 'gf

'total tetail ·atoaloliift • .•..•..•...•• ~ • -• ....•.
Total whol•ale ataioli1ve •• ~ ••....••••••..•
Total 'ifbDl...ale - other than automot!.-•••••
Total retail- other COJIIWIIG"s'· pods .......
Indll~rial, 00-cial, aDd tum equlpaent. ·r---=-:.t:==-+--.t.::::t.j~'--11"---"'......""'""""'-t-----"'---.-·
fOtit.l 8ale8 tl.DIDC~S. -. • • • • • • • • • •

Data are
·OR filure• trOIIA lales
e campuies able to report both their paper acquired aad their
outetaad!Da balances. _
· - -g/ Ratios obta!niJd b,r 41~~ ~ acquired (colWII!l 2) b,y ~tetan~ -b~es (colUIIIIl :J),

Nwlber of Cere

Table 5.-Autollotive Fitlancins
and Volume ot Paper Acquired Durins October 1943

~ed

Number ot. care
Percent
Number
ot
tot.:!.

Clals ot paper

'iItot.J,. Ntall autaaoti:ve •••••• ~ ••••••••~ ••••••

34,045

Paper acquired
Pwcent

'Doll,.Z.

ot

volume

lOO

tl6,937,572

total

!I

~

lin ])&ls-..r car• ............ ~ ...........

1,300
460

31~388

897

4
1
92
3

1,169,461
659,733
·14,498,252
6lo,126

automotive ....................

12,759

~

t9 1 279 1373

r~ care <P..senser and cammercial) .......
Used cars .{paseanser arid commercial) ••••••

3,-149
9,610

25
75

2,473,401
6,805,972

lfn cCIIllllerClal cars • •••••••••••••••••.•·• • ••

Uaed.paaMnler cara •••••.. ·~ •. ~ ...••.••...••

Used. c~·cars •••••• •••••• ••••••• •Jf • •
Tot&l.'llho~ale

·•

-

100
7
4
85
4

!/

~

27
73

!I Data

are based on reports from sales f'inance companies providins a breakdown ot _~eir retail arid •holeeale
aut-"-w financing. Th- a.unte are lese than those reported in table 4 due to the exclusion ot 8CIIIIe
data tor •hich bre&lcdowns were -not available.

_I·,

Table 6.-Diversitied Finlincing
_
Volume ot Paper Acquired lluring October 1943

Clue of paper
Retail .;. other consuiaers• aoOclst
_
_
Pumit.uM racl1os, pianos, and other 111118-ica;l. inst1'121118nte,.,
lefl'18el'do1'8 and other household appliances ......... , ... ·• ,
Residential buildins repair and mqclllrnisat.t.on••••••••••••••

Dollar volume

K1ectel.l.arte'Cnl8 ret&U •••••••••••••••••••••• -:• ••••• _•• ~-! ••••••

t717,010
170,096
2,818,404
1.086.2168

Total .retaU.- other COI18111Der•' sooda .... ~ •• ·-· .............. ..
Total whol81ale- other than au~iY•••••••••••••••••••••••
Industrial, 0011111ercial, and ~ eqliipaent. ~ •••••• , , • : • ••••••

t4,79l,778
90,199
389.101

Total diversified tinancina ...... ; • , • ..
Bureau

ot the Clln8U8

14
3
53

A

!I

9l

2

..:1
lOO

CUrrent· statistical Service

!/Dat.a ere based on reports from sales finance companies providins a breakdown ot their._ retail ·tinencina Ot
othlr co118111118re 1 .aood~. This amount is lese thiln that reported in. table 4 due to the exclusion ot some .
elate tor -which breakdoWns were .not available.
 J-IHa


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