Full text of G.20 Sales Finance Companies : February 6, 1964

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FEDERAL

r GOV^

statistical

RESERVE

release
February 6, 1964

G.20
SALES FINANCE COMPANIES
DECEMBER 1965

Sales finance companies held $15,525 million of consumer instalment
credit on December 51, after an increase of )i>221 million during the month.
Retail automotive passenger car.paper, other consumer goods paper and persona
loans all contributed to this, expansion.
Sales finance companies stepped up their acquisitions of all types
of consumer paper in December, though the total number of cars financed a
retail by these companies was only slightly higher than m November and in
December, 1962. The volume of repayments also moved up sharply after a dip
in November.
For 1965 as a whole, consumer credit held by sales finance companies
rose ©1,329 million. This was the largest rise reported for any year since
1959. Retail automotive passenger paper accounted for almost three-fifths oi
the increase, while personal loans and other consumer goods each accounted for
about one-fifth.
Outstanding Credit Held by Sales Finance Companies
(In millions of dollars)
Dec. 31,

Type of credit

1965

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

Tnp.-ran.ss or decrease during:
Year ended
Dec.
Dec.
Dec.
31, 1963
196.2
1965

15,525

+221

+208

+1,529

8,228
5,585
158
1,754

+ 18
+150

+
+

+ 55

+ 9
+156
- 1
+ 44

5,814

+244

+174

754
1,818
425
2,819

: 1
+255
- 1
- 9

+ 4
+184
- 4

-

2

- 10

779
260
12

502
606
+

112

+

298

+

82

+

114

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




4"

G.20

—2—

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

Type of credit

Consumer instalment credit
Retail automotive (passenger cars)
New
Used
Other consumer goods paper
Repair and modernization loans
Personal loans
Business credit l/
Retail automotive (commercial vehicles)
Hew
Used
Wholesale automotive paper
New (passenger and commercial)
Used (passenger and commercial)
Whblesa-le other than automotive
Other business credit l/

December
1963

Change from:
Month
ago

Year
ago

1,192

+179

+128

612

+ 19

+ 49

395
217

+ 9
+ 10

+ 45
+ 4

306
8
266

+ 87
+ 1
+ 72

+ 35
0
+ 44

2,123

+158

+288

64

+

1

+ 11

51
13

+
-

2
1

+ 11
0

1,579

+157

+250

1,505
74

+149
+ 8

+242
+ 8

119
361

0
0

+ 12

+ 15

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




G. 20

-3Number of Motor Vehicles Financed by Sales Finance Companies
(in thousands)
Change from:
Type of vehicle

December
1963

Month
ago

Year
ago

Total financed at retail

342

+ 8

+10

New passenger
Used passenger
New commercial
Used commercial

142
175
16
9

+ 2
+ 5
+ 1
0

+14
-10
+ 4
+ 2

614

+61

+86

555
59

+54
•f 7

+83
+ 3

Total financed at wholesale
New (passenger and commercial)
Used (passenger and commercial)
I.

Credit Sales of New Passenger Cars as a Per Cent
of Total Number Sold at Retail 1/
Credit Sales
1963 - Desember
November
1962 - December
l/ Based on new car instalment contracts acquired
companies, other financial institutions, and automobile
prior months may be obtained by writing to the Division
tics, Board of Governors of the Federal Reserve System,




Per Cent
59
56
57
by banks, sales finance
dealers. Data for
of Research and StatisWashington 25, D. C.