Full text of G.20 Sales Finance Companies : February 6, 1967

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statistical

release

G.20

^
„

'

February 6, 1967.

SALES IfINANCE COMPANIES ^
DECEMBER 1966

Consumer- instalment credit outstanding at sales finance companies
increased/$146 million during December to $16,936 at the year-end, with other
consumer goods paper and personal loans,accounting for the expansion & The increase for 1966 as a whole came to nearly $800 million-* 'with slightly over half
in the other consumer goods category.
Acquisitions of consumer goods paper and personal lofns showed a
greater-than-seasonal increase in December arid this more than offset the contraction in retail automotive paper. '
The volume of wholesale automotive paper for new cars declined more
than is usual in December and accounted for a substantial decline in total business
credit extended. The volume of home improvement loans in December was unchanged
from both a month and a year earlier.
<
Outstanding Credit Held by Sales Finance Companies,
(In millions of dollars)

• Type of credit

Dec. 31,
1966

Consumer instalment credit

Increase or decrease during:
Year ended
December
December
December 31, 1966
1965,
1966
1

146

16,936

'

Retail automotive (passenger
cars)
Other consumer goods
Home repair and modernization
Personal loans

'

Business credit 1/
Retail automotive
(Commercial vehicles)
Wholesale automotive
Wholesale other than automotive
Other business.credit
0
If Excludes some credit extended to
subsidiaries.




9,391
4,829
110
2,606

-

4
93
0
57

7,348

291

1,036
2,648
556
3,108

- 13
276
- 18
46

•'

.
'

V

798

—

31
97
- 3
50

150
400
- 13
261

258

_619

3
218 _
21
16

\

105
324
'12
178

business, such as that extended by factoring

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

1,374

Consumer instalment credit
Retail automotive (passenger cars)
.NewUsed

-j
-

.

Other consumer goods
Koine repair and modernization
Personal loans
Business credit V .
Retail automotive (commercial vehicles)

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

Change from:
Year
Month
ago
ago

Dec.
1966^

Tyoc of_credit

-51

.

598

- 32

:

-57

394
204

"-27
- 5

'

-35
-22

94
0 '
71

435
6
335
:

2,441'
78
60
18

!

-19
0
25

j

-127

-153

-

7

-

5

-

5
2

-

5
0

1,689

-167

-148

1,629
60

-168

i

-137
- 11

144
530

16
'• 31

- 44
44

.

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




I
'

772-

G.20

-3Number of Motor Vehicles Financed by Sales Finance Companies
(In thousands)

Change from:
Year
Month
ago
ago

December'
1966

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)

292

-14

130
137
16
9

-11
- 2
- .1
0

621

-35

569
52

-44
9

-36

'

-18
-20
1
1
>

.

265
--63
- 2

.

Credit Sales of New Passenger Cars as a Per Cent
of Total Number Sold at Retail 1/

Credit Sales

•

'

Per Cent
6Z

1966 - December
:

1966 - November
1965 - December

' '

'

"

. " .

62
r65

' '

'

1/ 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, D. C.
20551.
r - Revised.