Full text of G.20 Sales Finance Companies : January 5, 1967

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FEDERAL
statistical

RESER Rl:

release

Jfattiuary 5, T967.
SALES (FINANCE COMPANIES
NOVEMBER. 1966
Consumer c r e d i t . o u t s ^ r i d i h ^ . ^ ^ a i . s s ^ . f i t x a p . c e . . c o m p a n i e s . . , r . a s . e . $ 19 m i l l i o n
d u r i n g November to a l e v e l : o f $16,790 m i l l i o n .
Both p e r s o n a l l o a n s and o t h e r
consumer goods c r e d i t o u t s t a n d i n g were up, b u t t h e i n c r e a s e i n oth'et consumer
goods was s m a l l e r t h a n t h e u s u a l s e a s o n a l i n c r e a s e i n t h i s c a t e g o r y . R e t a i l
a u t o m o t i v e - p a p e r o u t s t a n d i n g . , . . On. t h e o t h e r h i n d y shbwed a ' d e c l i n e ' t h a ' t was l e s s than seasonal.
1
S a l e s f i n a n c e companies a c q u i r e d $27 m i l l i o n more p e r s o n a l l o a n
p a p e r i n November t h a n i n t h e p r e v i o u s month b u t r e d u c e d . t h e i r a c q u i s i t i o n s of
a l l o t h e r " t y p e s , of consumer c r e d i t p a p e r . R e t a i l a u t o m o t i v e papeir, however, showed l e s s t h a n t h e u s u a l s e a s o n a l d e c l i n e . Repayments i n f e r e a s e d over llasf '
month i n fevery c a t e g o r y e x c e p t r e t a i l a u t o m o t i v e , where a d e c l i n e o f ' $ 2 ' 8 m i l l i t m
was shown.
B u s i n e s s c r e d i t o u t s t a n d i n g i n c r e a s d # i $ 2 0 9 m i l l i o n d u r i n g November,
w i t h w h o l e s a l e a u t o m o t i v e c r e d i t a c c o u n t i n g s f til: t h e btrltc o f ' t i r e i t i c t e a S e . '
O u t s t a n d i n g 'Ciredit Held by S a l e s F i n a n c e Companies
~
;
( I n m i l l i o n s of d o l l a r s )

Type-of c r e d i t : :
Consumer i n s t a l m e n t c i r e d i t

'

. Nov. 3-y,
•

1

16,793

R e t a i l .automotive...(Lassgngei:,.,.
9,395
• cars)
O t h e r consumer goods
4,736 :
Home r e p a i r and m o d e r n i z a t i o n
110
Personal loans
2,549

I n c r e a s e or d e c r e a s e d u r i n g :
1
j
November • "November- <• Year ended
r
1
"Nov. 30; 1966
. 1965 1966
_ii

'

- 3
10
- 2
14

B u s i n e s s c r e d i t 1/

7,057

209

R e t a i l automotive
(commercial v e h i c l e s )
Wholesale automotive
Wholesale other than automotive
Other Business c r e d i t

1,049
2,372
574
3,062

- 6
203
-17
29

^
17
>52 v
V 2
17

.

830

,
. .

177
415
-16:
254

230

586

7
211
14
- 2

121
266
51
148

J J E x c l u d e s some c r e d i t e x t e n d e d t o b u s i n e s s , such a s t h a t e x t e n d e d by f a c t o r i n g
subsidiaries. •

I




G.20
C r e d i t Extended by S a l e s F i n a n c e Companies
( I n m i l l i o n s of d o l l a r s )

Ty-pe_ of c r e d i t
. 1966
Consumer i n s t a l m e n t c r e d i t

630

,

2,568

Wholesale automotive paper
New ( p a s s e n g e r and commercial)
Used ( p a s s e n g e r and commercial)
Wholesale other than.automotive
Other b u s i n e s s c r e d i t I j

•

41

• -16
-18 .
-27
8
z51

§5
,
g

-14

-

65
20

R e t a i l a u t o m o t i v e (commercial v e h i c l e s )
•

-18
- 1
27

341
6
264

B u s i n e s s c r e d i t 1/

New
Used

- ,2
-20
. 18 .

421
. 209

. .Other consumer goods
Home r e p a i r and m o d e r n i z a t i o n
Personal loans

-53

6

1.241

Retart—automotive (passenger cars)
New
Used

Change f r o m :
Month
Year
ago

- 8
- 6

- 3
1

1,856

61

1,797
59

58
3

-46
- 6

128
499

-19
13

-34
37

—

V Excludes"some c r e d i t e x t e n d e d t o b u s i n e s s , s u c h , a s t h a t e x t e n d e d by
factoring subsidiaries.
^




2

. -3Number of Motor V e h i c l e s F i n a n c e d by S a l e s F i n a n c e Companies
(In thousands),

Type of v e h i c l e
Total financed at r e t a i l
New p a s s e n g e r
Used p a s s e n g e r
New commercial
Used commercial

Chan;xe f r o m :
Year
Month
ago
ago

November
1966
306

-

Total financed at wholesale

656

New ( p a s s e n g e r and commercial)
Used ( p a s s e n g e r and commercial)

.

=21

6

.

- 8
7
6
1

141
139
17
9

>
.

-u
-18
2

9

613
43

-51

8
1

.

-45
- 6

1
C r e d i t S a l e s of New P a s s e n g e r Cars as a Per C e n t 1
of T o t a l Number Sold at. R e t a i l 1 /
Credit Sales
1966 - November
1966 - O c t o b e r
1965 - November

Per Cent
62
r62
62

1/ Based on new c a r i n s t a l m e n t c o n t r a c t s a c q u i r e d - by bank's, s a l e s f i n a n c e
companies, o t h e r f i n a n c i a l i n s t i t u t i o n s , , and a u t o m o b i l e d e a l e r s . Data
f o r p r i o r months may be o b t a i n e d by w r i t i n g t o t h e D i v i s i o n of R e s e a r c h
and S t a t i s t i c s , Board of Governors of t h e F e d e r a l R e s e r v e System,
W a s h i n g t o n , D. C. 23551. .
r - Revised.