Full text of G.20 Sales Finance Companies : December 31, 1942
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Immediate
f'if':.·~Wi fl"-" •
DEPART MEN T OF COMMERCE
Release
1:';_/u• ~X~t:i~f1fftiflfTHE BUREAU OF THE CENSUS
December 31, 1942
· .,_,.. JM; SY~'l'EM
'-!fiN -~~ 1943
Current
Statistical
Service
SALES FINANCE OOMPANIES
November 1942
. LlfJRAH'f
e.o ~ "1
"t.
In November 1942, the number of new passenger cars financed by sales finance companies waa
off 42 percent from the number in October of this year, according to an announcement released today by
J. C. Capt, Director of the Census. The dollar volume of paper acquired in new passenger car financing
was off 40 percent. In used passenger car financing, the number of cars decreased 16 percent, and the
dollar volume of paper acquired, 17 percent.
Compared with the preceding month, the number of new
commercial cars financed was 24 percent less in November and the dollar volume of paper acquired,
16 percent. The number of used commercial cars financed decreased 23 percent, while the dollar volume
of paper acquired was off 22 percent.
The volume of retail automotive o.utstandings held by sales t~ce companies was 13 percent
less as of November 30, than as of October 31, 1942.
The index was 157 at the end ot November 1941,
but dropped to 44 at the end of this Novellber.
OUTSTANDING BALANCES
RETAIL AUTOMOTIVE FINANCING
DEc:WBE:a 31, 1939 100
=
INDEX
1940
1941
1942
Wholesale automotive paper acquired during November 1942 by sales finance companies declined
18 percent in. volume from October of this year for new passenger and new commercial cars, while the
volume· for used passenger and used commercial cars fell off 51 percent.
The volume of outstanding
balances for this type of paper decreased 5 percent from October 31, 1942 to November 30, 1942.
A comparison of the retail diversified financing by sales finance companies during November
1942 with their respective volumes recorded in October of this year showed decreases for all types for
which data are shown: ll percent for radios and other musical instruments; 14 percent for furniture;
19 percent for other household appliances; 23 percent for residential building repair and modernization; and 26 percent for industrial, commercial, and farm equipment.
The volume of wholesale
diversified paper acquired in November was 43 percent below that reported for October.
As of November 30, 1942, compared with October 31, 1942, the volume of diversified outstanding balances held by sales finance companies decreased 7 percent for the retail financing of other
consumers• goods; 42 percent for industrial, commercial, and fann equipment; and 29 percent tor wholesale diversified financing (other than automotive).
The ratios · ot the paper acquired during November 1942 to the outstanding balances as of
November 30, 1942 were 3 percent for retail automotive, 4 percent for wholesale automotive, 13 percent
for wholesale - other than automotive, 4 percent for retail - other con8UIIlers 1 goods, and 4 percent
for industrial, commercial, and farm equipment.
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These data on the current trends of sales financing during November 1942 were based on reports from 250 sales finance companies, and the dollar volumes should not be used to measure the total
amount of financing by all sales finance companies in the United states.
The data are published as
reported without adjustment for seasonal or price fluctuations. The figures presented in tables 5, 6,
and 7 or 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 tor November
were obtained by calculating the percent ·changes from October to Noveuber, as shCIIJil by data on reports
tor both months from the same sales finance companies, and by linking ~hese percentages to the indexes
previously derived tor October 1942.
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SALES FINANCE COilPANl&s
Table 1.--Automotive and Diversified Financing
Index of Trends in Outstanding Balances by Class of Paper
December 31 1 1939·• 100
Total
all
Date
sales
financing
Retail
automotive
Wholesale
automotive
Wholesale
other
than
automotive
!/
Retail
other
consumers•
goods
Industrial,
comnercial,
and .t;arm
equipnent
1939 - Dec. 31 •••••••
100
100
100
100
100
100
1940- Dec. 31 •••••••
136
132
169
140
129
131
1941- Oct. 31 •••••••
-Nov·. 3() •••••••
- Dec. 31 •••••••
152
164
157
149
175
--
148
147
31 ••.••••
147
143
135
125
.115
105
95
84
75
67
60
139
128
116
105
95
196
2j4
233
222
208
193
175
151
137
124
143
139
135
131
126
118
110
103
144
152
155
156
153
148
140
134
·124
110
64
1942 - Jan.
-Feb.
- Mar.
~ Apr.
-May
- June
-July
28 •••••••
31 ..••...
30 •.•••.•
3]. ••••• ••
3() • •.•••••
31 •••••••
- Aug. 31 ...•••.
- Sep. 3() •••••••
-Oct. 31 •••••••
- Nov. 30 •••••• •
86
77
67
59
51
44
-
250
262
293
252
191
153
130
110
97
85
74
52
us
•.•
-,
96
89
83
!( Indexes for October 31, 1941 and November 30, 1941
are derived from data in the 11 Autamobile
F.inancing" report previously published by the Bureau of the Census.
Indexes as of December 31
for the years of 1939, 1940 1 and 1941 are based on figures reportedl;>ysales finance companies on
a supplementary report form which accompanied the regular monthly report form for January 1942.
Indexes for 1942 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 percent&Bes to the indexes for the preceding month.
Table 2.-Automotive Financing
Index of Trends in Number of. Cars Financed, 1942
January 1942 = 100
Class of paper
Jan.
Feb. Mar.
!/
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Total retail automotive • 100
70
78
64
59
61
61
54
42
32
27
New passenger cars ••• 100
22
·43
40
58
52
53
50
40
23
l4
New commercial cars ••
100
27
45
31
23
25
22
19
10
8
6
Used passenger cars ••
100
77
83
68
60
64
63
55
43
34
28
Used commercial cars.
100
74
69
55
45
46
42
34
28
21
16
Bureau of the Census
.!/
Current Statistical Service
Indexes are derived by calculating the percent changes in the number of cars financed by sales
finance companies during each month from those financed by the same companies during the preceding month, and by linld,ng these percentages to the indexes for the preceding month. The indexes for nT_otal retail automotive" are based on all figures reported for this item regardless
of whether or not a breakdown could be supplied.
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SALES FINANCE COMPANIES
Table 3.~Automotive Financing
Index of Trends in Volume of Paper Acquired, 1942
January 1942 ~ 100
!/
Jan.
Feb.
Mar.
Apr.
)lay
June
July
Aug.
Sept.
Oct.
Nov.
100
62
73
57
55
57
58
52
41
32
2J
New passenger cars,,,,,,,,
100
22
46
42
60
55
57
54
45
26
16
New commercial cars •••••••
100
28
48
34
25
29
25
23
11
9
8
Used passenger cars •••••••
100
73
81
62
55
60
60
54
42
34
28
cars~·····
100
76
69
58
47
51
47
39
34
28
22
Total wholesale automotive ..
100
93
39
19
16
l2
12
10
10
9
6
caum.) ..
100
100
37
17
14
10
8
7
7
6
5
comm.).
100
67
66
40
37
29
29
28
27
29
14
Clas's of paper
Total retail automotive,,,,,
I
Used commercial
New cars (pass.
Used cars (pass.
&
&
!f Indexes are derived by calculating the percent changes
in the volume of automotive paper acquired
by sales finance companies during each month from the volume acquired by the same companies during
.the preceding month, and by linking these percentages to the indexes for the preceding month, The
indexes for "Total retail automotive" and for "Total wholesale automotive" are based on all tigures
reported for these items regardless of whether or not breakdowns could be supplied,
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Table 4.--Diversified Financing
Index of Trends in Volume of Paper Acquired; 1942
January 1942 = 100
!/
oct. Bov.
Jan,
Feb,
Mar.
Apr
May
June
100
103
137
123
108
80
59
54
52
60
S2
Furniture .......................... 100
88
122
110
97
73
66
59
59
64
55
Class of paper
Total retail,other consumers' goods.
J1ll,r. Aq.
Sept.
Radios, pianos, and other
musical instruments •••••••••••••
100
108
141
72
37
33
30
31
28
33
29
Refrigerators, {gas and electric).
100
147
250
132
105
63
34
22
19
23
15
Other household appliances ••••••••
100
115
169
116
80
46
31
37
36
28
23
Residential building repair and
modernization •••••••••••••••••••
100
92
119
127
128
98
84
77
76
82
64
Miscellaneous retail ••••••••••••••
100
144
155
131
131 142
124
117
135
97
87
Total wholesale, except automotive.,
100
128
106
52
24
18
12
11
9
10
6
Industrial, comnercial, and farm
equipment •••••••••••••••••••••••••
100
124
158
162
85
49
46
31
27
40
30
Total diversified financing ••••, 100
lll
130
107
86
62
47
42
40
46
39
Bureau of the Census
!/ Indexes
Current Statistical Service
are derived by calculating the percent changes in the volume of diversified paper acquired
by sales finance companies during each month from the volume acquired by the same companies during
the preceding month, and by linking these percentages to the indexes !or the preceding month, The
indexes for "Total retail other consumers' goods" are based on all figures reported for this item
regardless o! whether or not a breakdown could be supplied.
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Table 5.- Automotive and Diversified Financina
Volume-of Paper Acquired durin& November 1942 and Balances Outstanding November
30, 1942
"Yol.\11118 of paper acqui»ect
4uriiU! Nov•llber l942
By cOIIIpani-.
reporting
By all.
companies
outstail~
balanc;:es
Class of paper
.
112,841,270
6,754,541
Total Wholesale- other than automotive ••••••
314,932
6,250,661
Total retail - o,_her consumers 1 goods ••••••••.
-Total retail automotive .......................
Total 'Wholesale aut01110tive • •.•••••••••••••••• •
Industrial, c0111111ercial 1 and farm equiplll8llt. ; • ·
Total sales financings •••••••••••••
y
g/
2~,106
$26,453,510
112,479,442
6,695,236
291,183
6,079,822
.280,733
125,826,416
Outstanding
balances
November 30,
Ratio p • r
acquired to
outstanding
balances 'if
1360,119,047.
188,135,898
2,224,315
151,565,940
6,898,430
1708,943,630
3
4
1942
y
l3
4
4
4
Data are based on figures trom sales finance companies able to report both their paper acquired and their
outstanding balances.
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Ratios obtained by dividing paper acquired (column 2) by outstanding balances (col'llllln 3).
Table 6.- Automotive Financing
Number of Cars Financed and Volume of Paper Acquirt~d during November
Total retail automotive ... • •••• ·••••••••••••••
~
New paasen,er cars •••••••••••••••••••••••••
New ~rcial cars ••••••••••••••••••••••••
Used paaaenser cars ••••••••••••••••••••••••
Used commercial cars ••••••••• ~ .......... !•••
1,553
Total wholesale
Paper acquired
Number of cars
Percent
Number
of
total
Class of paper
a~tomotive •••••••••••••••••••
'·
New-cars (passenger and commercial) ••••••••
U'sed cars (passenger and c01111118rcial) ••••••.•
1942
!22
~ 1 6lQ 1 lOl
5
1,304,278
211,948
10,5')1,410
522,465
l48
l
28,075
l,OSO
91
'3
--
-
Percent
of
total
Dollar
volume
16,239;808
Y
;!.92
10
2
84
4
-
!l
100
4,561,222
1,678,586
73
27
y Data are based on reports from. ~ales finance companies providing a breakdOwn ot their retail and wholesale
automotive financina.
These ·i)llaWrt.s are less than those reported in tabl& 5 due to the exclusion of some
data for which breakdowns were not available.
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Table 7.--"-Diversitied Financina
Volume of Paper Ac~red during November
Class of paper
Dollar volume
1942
Percent
of
total
Retail - other consumers' goods:
FUrniture •••••••••••• .- •••••••••••••••••••••
Radios, pianos, & other DDlsical instruments.
Refrigerators, {gas and electric).· •••••••••
Other household appliances•••••••••••••••••
Residential bldg. repair & modernization •••
Uiscellaneous retail ••••.••••. •.•..••.•••••
Total retail- other consumers• goods ••••••••
Total wholesale- other than automotive •••••
Industrial, coaunercial, and farm e~ipment •••
Total diversified financing ••••••••
Bureau of the Census
. !/
1339,113
70,554
121,903
91,835
1,362,222
649,995
$2,63i,.222 ~
31.4,932
292,106
13,243,260
lO
2
4
3
42
20
81
10
9
lQO
Current Statistical Service
Data are based on reports from sales finance companies prQviding a breakdown of their retail financing ot
other consumers' goods.
This amount is less than that reported in table 5 due to the exclusion of some
data for which breakdowns were not available.
3-37748
@FedFRASER