Full text of G.20 Sales Finance Companies : January 30, 1943
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•
Immediate
Release
Januar;y 30, 194'-;.:,;,~ .~;
.
r i·-.·c·:..
DEPARTMENT OF COMMERCE
.
'-"''\·:~.~~/:
u. ·. . .\:'(
·.1.,
BUREAU OF THE CENSUS
SALES FINANCE COMPANIES
Decemberl942
The number of new passenger cars financed in December 1942 by sales finance companies fell
off 29 percent from the number in November of this year, accor~g to an announcement released toda7
by J. c. Capt, Director of the Census.
The dollar volume of paper acquired in new passenger car
financing was off 27 percent.
The number of used passenger cars financed decreased 25 percent, and
the dollar volume of paper acquired, 23 percent. Compared with the preceding month, the number of ne"l{
commercial cars financed was 47 percent less in December and the dollar volume of paper acquired,
54 percent. The number of uaed co11111ercial cars financed decreased 24 percent, while the dollar volume
of paper acquired was off only 20 P'-rcent.
As of December 31, 1942, the volume of retail automotive outstandings held by sales finance
companies was 16 percent less than as of November 30, bringing the index down to 37, compared with
149 at the end of December a year ago.
OUTSTANDING BALANCES
RETAIL AUTOMOriVE FINANCING
DECEIIBER 31, 1939 • 100
INDEX
200
ISO
100
•
50
0
1940
1941
1942
Wholesale automotive paper acquired for new passenger and new co~~~~~~ercial cars by sales
finance companies during December 1942 declined 28 percent in -volume from November of this year, llhile
the volume for used passenger and. used co.~~~~~ercial cars was off only 7 percent.
'l'be -volume of outstanding balances for this type of paper decreased 5 percent from Nov~er 30,1942 to December 31,1942.
For December 1942 in retail diversified financing, month ago campariaona show increases in
the financing of residential building repair and modernization (123%), :industrial, COIIIIII8rcial, and tara
equipment (98%), radios and other musical instrument• (36%), and furniture (30%); but decreases were
recorded tor other household appliances (9%), and refrigerators (29.().
In wholesale div,rsified
financinc, t.he volume of paper acquired was down 55 percent from November to December of this year.
As of December 31, 1942, compared with Novelliler 30, 1942, the volw. of diversified outstanding balances held by sales finance companies decreased 8 percent for the retail financine of other
coMUJ~~~ra• ,oo~;
5 percent for industrial, coaimercial, and farm equi}:llent; -and 23 percent for wholesale diversified financing (other than automotive).
The ratios of the paper acquired during December 1942 to the outstanding balances as of
Decelllber 31 1 1942 were 3 percent for retail automotive, 3 percent for wholesale automotive, 7 percent
for llholeaale - other than automotive, 5 percent for retail - other consumers• goods, and 9 percent
tor i.Ddustrial, COIEI8rcial, and farm equipment.
These data on the current trends of sales financing during Decelliler 1942 were baaed on reports from 239 sales finance companies, and the dollar -volumes ahoul.d not be assumed to represent the
total amount of tinancing by &ll sales finance companies in the United states. The data are published
as reported without adJust.nt for seasonal or price fluctuations.
The figures presented in tables
5, 6, and 7 of this release are not co~arable to those published for previous months since monthly
reports have not been received each 1110nth from identical sales finance COIIIpUliea.
All indexes for
December were obtained by calculating the percent changes from November to December, as shown by data
on reports for both months from the same sales finance companies, and by linking these percentages to
the indexes previously derived for November 1942.
1-30602
....
Pa&e 2
SALES FINANCE COUP ANIES
Table l.--~utomotive and Diversified Financing
I.o.dex of Trends in Outstanding Balances by Class of Paper
December 31, 1939 100
=
Total
•
~
Retail
a11tomotive
Wholesale
automotive
Wholesale
other
than
automotive
Retail
other
consumers'
goods
100
100
100
100
100
100
1940 - Dec. 31 •••••••
136
132
169
140
129
131
1941 - Nov. 3() •••••••
- Dec. 31 •••••••
152
-
157
149
175
250
148
147
262
293
252
191
153
1.30
110
143
139
135
131
126
152'
155
156
153
)0 •••••••
60
139
128
116
l05
95
86
77
67
59
51
196
234
233
222
31 •••••••
147
143
135
125
115
105
95
84
75
67
all
Date
sales
financing
1939 - Dec. 31 •••••••
1942- Jan.
- Feb.
... liar.
-Apr.
31 •••••••
28 •••••••
31 •••••••
30 •••••••
-May 31 •••••.••
- J~e 30 •••••••
- Jllly 31 •••••••
-Aug. 31 •••••••
-
!I
Sep.
Oct.
Nov.
Dec.
,30 •••••••
3J. •••••••
5.3
-
"
-
208
193
175
151
137
118
.37
112
-
....
1.44
118
148
110
103
96
89
8.3
76
97
85
74
52
40'
124
44
Industrial,
commercial,
and farm
equ.ipnent
140
1.34
124
110'
64
61
The index for November 30, 1941 is derived !rom data in the ".Allt.oaobile ·Financing" report previously p11bliahed by the &:lre&ll of the Census. Indexes as of December 3L for the years of 19.39,
1940, and 1941 are based on figu.res reported b7 sales finance companies ·on a Sllpp1ementary report form which accompanied the reglllar monthly report form tor Janu.ar7 1942.
Indexes ter ).942
are derived by calclllating the percent changes of the outstanding balances reported b7 sales
finance COIIIlpaniea for each month from .those reported by the same coapaniea for the preceding
month, and by linking these percentages to the indexes for tbe precedi'Qg month.
Table 2.--A11tomotive Financing
Index of Trends in Humber of Cars Financed, 1942 ~
JMuary 1942 : l,.OO
Apr. Jla,y
Class of paper
Jan.
Feb.
liar.
Total retail automotive ••
100
70
78
64
New passenger cars •••••
100
22
43
Hew co11111ercial car a ••••
100
27
Ueed passenger cars ••••
100
Used cOIIIUrcial cars •••
100
Bu.rea11 of the Ceaaua
June
July
.A.q.
Sept
Oct.
Nov.
Dec.
59
61'
61
54
42
.32
27
20
40
58
52
5.3
50
40
23
14
10
45
.31
2.3
25
22
19
10
8
6
3
77
8.3
68
60
64
6.3
55
4.3
34
28
21
74
69
55
45
46
l""'
34
28
21
16
12
Cu.rrent Statistical Service
!/Indexes are derived b7 calculating the percent changes in the number of cara financed by aalea
finance coapaniea during eaca 111011th from tboae financed by the same companies during the preceding month, and b7 linkinl these percenta,ea to the indexee for the preceding JI)Onth. The indexes for •Total retail aatomotiTe" are baaed on all figures reportea for t~ie item regardless ,
ot whether -Or aot a breakdown collld be supplied.
3-30602
""'.
,,
Pqe 3
SALES ·FDWICE CCJIP AlliES
Tabb 3.-Ailtomotive Finlllloiag
Index ot Trends in Volume ot Paper Aoqllired, 1942
January 1942 = 100
Class ot. paper
Jan.
Feb. Mar.
!/
June JlllT Au4r·
Apr. Mq
Sept. Oct. lov. Dec.
Total retail antomotive ••••••• 100
62
73
57
55
57
58
52
41
32
25
19
New passenger cars •••••••••• 100
22
46
42
60
55
57
54
45
26
16
ll
lew caanercial. cars ••••••••• 100
28
48
34
25
29
25
23
ll
9
8
4
Used passenger cars ••••••••• 100
73
81
62
55
60
60
54
42
34
.28
22
Used commercial care •••••••• 100
76
69
58
47
5l
47
39
34
28
22
17
Total wholesale a11tom.otive •••• 100
93
39
19
16
12
12
10
10
9
6
5
Hew care (paaa. & comm.) •••• 100
100
37
17
14
10
8
7
7
6
5
4
Used care (pass. & comm.) ••• 100
67
66
40
37
29
29
28
27
29
l4
13
!I Indexes are derived by calclllating the percent cbaagea
in tbe volume of &lltamotive paper acqllirecl
by sales finance companies during each month from the volWDB acqllirecl by the saae companies duriq
the preceding month, and by -linld.ng these percentqea to the indexes for the poeceding lllOllth. The
indexes for "Total retail a11tomotive" am for "Total wholesale antomotive• are baaed on all fig11res
reported for these items regardless of wnetber or not breakdowns collld be-supplied.
TabLe 4.--Diversitied Financing
Index of Treads in Volume of Paper Acql11red, 1942
January 1942 • 100
Class of paper
Jan.
Total retail,other conswmers' goods. 100
Furniture ••••••••••••••••••••••••• 100
!I
Feb Mar Apr. llq June July ·Aill· Sept. Oct. Nov Dec.
103 137 123 108
88 122 110
80
59
54
52
60
52
60
97
73
66
59
59
64
55
71
dadios, pianos, and other
musical instruments ••••••••••••• 100
108 141
37
33
30
31
28
33
29
40
Refrigerators, (gas and electric).
147 250 132 105
63
34
22
19
23
15
11
115 169 116
80
46
31
37
36
28
23
21
92 119 127 l28
98
84
77
76
82
64 142
144 155 131 131 142
124
117 135
97
87
88
100
Other ho118ehold appliances •••••••• 100
Residential b11ilding repair and
modernization •••••••••••••••••••
100
Kisce11aneous retail ••••••••••••• ~ 100
72
52
24
18
12
ll
9'
10
6
3
100
124 158 162
85
49
46
31
27
40
30
59
Total diversified financing •••• 100
111 130 107
86
62
47
42
40
46
39
Total wholesale, except automotive •• 100
128 106
Ind11strial, commercial, and far.m
equ.ip~~~.en.t ••••••••••••••••••••.•••••
B11re&11 of the Cens11s
O~~rrent
,
....
ltatiltioal SerTice
!/Indexes are derived b7 calclllatiq the percent cbqes in the Tc»lume or diversified paper acqllired
bf sales fioance companies duriftl each month tram the volwa,e acq11ired br·the sue comp&Aiea dlll'iftl
the preceding month, and bf J 'nki ac these ·percentace• to the iadexea for the precediftl liOntA. 'l'he
indexes tor •Total retail other cons~~·~ soocia• are baaed on all fig~~rea reported tor tbia it•
re1arciless ot whether or not a breakdown oollld be .. Bllpplled.
-
a-aoeoa
~
....
Pqe 4
SALIS FINANCE COMPANIES
Volume ot Paper
Table s.--Automotive and Diversified Financing
Dec.mber 1942 and Balances O~tstanding
Acq~ired d~ring
Volume ot paper acq~ired
dlll'itut December 1942
By companies
By all
reporting
companies
o~tstandi_,!!
balances
Class ot paper
Total
Total
Total
Total
Decem~r
31, 1942
o~tstanding
Ratio paper
acq~ed to
balances
December .31,
1942.;
o~tstandirl&
balances 'sf
retail automotive •••.••••••••••••••••••
wholesale a~tomotive •••••••••••••••••••
wholesale- other than a~tomotive ••••••
retail- other consumers' goods ••••••••
Ind~sti'ial, commercial, and !arm eq~ipaent •• ·•
Total"sales tinancings •••••••••••••
$10,112,1l>7
$9,777,09i
$305,204,61.7
3
180,195,02.3
5,496,59.3
5,4.35,'326
.3
146,9.30
117,6.38
1,76.3,999
7
7,.349,018
7,18.3,520
14l,J.38,415
5
520,871
5,687,670
5.32,245
9
$2.3,6.37,59.3
$2,3,0.34,446
$6,34,189,724
4
!rom sales tinance companies able to report both their paper acqmed and their
!I
Data are .based on !ig~res
oatstanding balances.
'sf Ratios obtained by dividing paper acqmed (colWIII1 2) by o~tstand.ing bal811C88 (colW1111 .3).
Table 6.--A~tomotin Financing
NWIIber or Cars Financed and VolUM of Paper Acq~ired during December 1942
NWIIber or cars
Percent
NWIIber
of
total
Class of paper
automotive ••••••••••••••••••••••
2,3,662
. .!22
New passenger cars •.•••••••••••••••••••••••
New commercial cars ••••••••••••••••••••••• ~
Used paasenger care ••••••••••••••••••••••••
~sed commercial care •••••••••••••••••••••••
1,207
79
21,568
808
1
91
.3
Total
ret~
Total wholesale
a~tamotive •••••••••••••••••••
New cars (passenger and commercial) ••••••••
Used cars (passenger and commercial) •••••••
y
5
-
-
-
-
Paper acqmed
Percent
Dollar
ot
volume
total
19 1 212 1 8~ ~
122
1,0.39,508
98,406
8,.351,179
42.3,766
11
1
84
4
~.27.§.Z22. ~
J.QQ
.3,'?24,499
1,652,26.3
67
.33
·Data are based on reports !rom sales finance companies providing a breakdown of their retail and wholesale
a~tomotive financing.
These amoants are less than those reported in table 5 d~e to the excl~sion or 80ID8
data !or which breakdowns were not available.
I
Table 7 .-Diversified Financing
Volume o! Paper Acqmed duriag December 1942
Class or paper
·Dollar wlume
Percent
o!
_t.o_t.a].
Retail - other consumers' goods:
Fu.miture .•..•••••••••••••.••••••••••••• • ••
Radios,pianos, & other ~sical instraments.
Refrigerators, (gas end electric) ••••••••••
Other ho~sehold appliances •• ~••••••••••••••
Residential tild&. repair & maciernization •••
Kiscellaneoaa retail ••••••••••••••••• ~ •••••
Total retail~ other consumers' goods ••••••••
Total wholesale - Qther than mtomotive ••••••
In®strial, cQIIIIIL8rcial, and !arm equpllBilt •••
Total diversified financin, ••••••••
Burea1.1 or the Cens1.1s
y
~.5~
91,.357
86,0,36
83,566
.3,0.32, 7.38
70.3,959
$4,440,204
146,9.30
5.32,245
15,119,.379
8
2
2
2
59
14
!I
8.7
3
10
iOO
Current Statistical Service
Data are based on reports !rom sales finance companies providin& a breakdown o! their retail tinancina o!
other conswaer1 1 gooda.
This amoant is less than that reported in tabla 5 dae to the excluion o! some
data tor which breakdowns were not aT&ilable.
8-30102
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@FedFRASER