Full text of G.20 Sales Finance Companies : December 4, 1962

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FEDERAL
statistical

release

/ f " %
( L I B R A R Y
;
X ^
Ay/

G. 20

RESERVE
'A

z

December 4, 1962

SAMSLEIBE^S^anies
OCTOBER 1962
Consumer'instalment receivables of sales finance companies
increased. .71 million in October, and month-end outstandings totaled
$11,604 million. Consumer credit for the purchase of automobiles rose
$52 million and personal loans rose -$24 million. Other consumer goods
paper and repair and modernization loans show-d little change.
Extensions of consumer instalment credit totaled 81,082 million
for the month, $237 million more than in September. Of this increase,
,1206 million represented higher extensions on automobiles, mostly new
passenger cars. Extensions of personal loans and other consumer goods
credit also rose somewhat.
Business credit at sales finance companies increased $244 million
during the month, with wholesale automotive paper accounting for almost
all of the expansion. The number of vehicles financed at wholesale
was 388 thousand larger than in September.
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

Oct. 31,
1962

Increase or decrease during:
Oct.
Oct.
Year ended
1962
1961 Oct. 31, 1962

11,604

+ 71

-16

+738

7,109
2,968
172
1,355

+ 52
- 5
0
:+ 24

-29
- 8
+ 4
+17

+488
+ 39
+ 15
+196

3,843

+244

- 7

+632

638
1,428
156
1,621

+15
+223
- 1
+ 7

+2
- 7
+3
- 5

+ 99
+303
+ 19
+211

l/ Excludes some credit extended to business, such as that extended by
factoring subsidiaries.




G.20
Credit Extended by Sales Finance. Companies
(In millions of dollars)
Oct.
1962

Type of credit
•

-

\

.

..

Consumer instalment credit
Retail automotive (passenger cars) .
New
Used
Other consumer goods paper
Repair and modernization loans
Personal loans
•r

1,082
658

4)8
220
1

246
-9
169

Change from:
Month
Year
ago
ago
+
+
+
+

237
206
171
35

+131
+128
+ 98
+ 30

+

22
0
9

- 17
- 2
+ 22

+

Business credit 1/
Retail automotive (commercial vehicles)
New
Used
.

1,969
- 65
51

Wholesale automotive paper
New (passenger and commercial)
.
Used (passenger and commercial)

1,625
! +1.070
1,532
+1,049
93_ ... + .21

+563
+557
+ 6

-

+ 3
+ 56

Wholesale other than automotive
Other'business credit l/

+1,115
+636
+
11
+ 14
+
9
+ 13
•' j 2•*
.

52
22?

i.+
+

5
29

l/ Excludes some credit extended to business, such as that
extended by factoring subsidiaries.




.

+

, . . ]_

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)

Oct.
1962

Change from:
Year
Month
ago
ago

374

+ 86

+ 47

161
191
15
7

+ 61
+ 24
+ 2
- 1

+ 32
+ 18
+ 1
- 4

653

+388

+187

571
82

+371
+ 17

+185
+ 2

Credit Sales of New Passenger Cars as a Per cent
of Total Number Sold at Retail l/
Credit sales
1962 - Oct.
Sept.
1961 - Oct.

Per Cent
54
69
59

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.