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FEDERAL
statistical

RESERVE

release

MEL WALLACE
G.20

January 5, 1968
SALES FINANCE COMPANIES
NOVEHBfi»-~ia^7

Consumer instalment credit outstanding at sales finance companies rose
$24 million during November to a month-end total of $16*722 million. Increases
in the other consumer goods and personal loan categories accounted for this advance. R e t a i l auto credit outstanding declined somewhat.
Paper acquired by sales finance companies totaled $1,283 million in
November. Credit extended for new passenger car credit was off, while other consumer goods and personal loan paper showed increases. This pattern also held true
insofar as repayments to sales finance companies this month.
Business credit outstanding rose $115 million to a total of $6;768
million. The wholesale automotive category accounted for the rise. Extensions of
business credit fell slightly in November.
Outstanding Credit Held by Sales Finance Companies
(In millions of dollars)

Type of credit

Consumer instalment credit
Retail automotive (passenger cars]
Other consumer goods
Home repair and modernization
Personal loav.s
Business credit JL/
Retail automotive (commercial .
vehicles)
Wholesale automotive
Wholesale other than automotive
Other business credit

November 30,
1967

Increase or decrease during:
Nov.
Year ended
Nov.
1967
1966
Nov. 30, 1967

16,722

.24

8,990

-34

. 4,907
. 105
2,720

-

44
2
16

6,768

111

1,045
1,910
524
.3,289

- 16
125
5
1

- 68

—

•

-

3

-

10
2
14

-405

-

171
5
171

209

-289

6
203
-17
29 '

- 4
-462
- 50
227

-

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




G. 2 0

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
Home repair and modernization
Personal loans
Business credit JL/-.
. Retail automotive (commercial vehicles)
New
Used
Wholesale automotive-paper
New (passenger and commercial)
Used (passenger and commercial)
Wholesale other than automotive
- Other business credit

• Nov.

i

Change from:
Month
Year
ago
ago

1967

1,283

-

__569

^

. 371
198

-

-

50
-

11
75*

6

7

1

291

22
-

-_10

1

—

27
.

-130

-

18

68

-

6

21

-

12

1

- 5 1

-206

53

-201

1,650
1,596
54

—

.

4

89

3

•

2

-

5

143

-

3

15

556

-

40

57

J L / E x c l u d e s isome credit, extended to business, sucji as that extended by
factoring subsidiaries.




61

—

34
6

.

416

2,438

• 42

1

- _ j 8

G.20
Number of Motor Vehicles Financed by Sales Finance Companies
(In thousands)

Type of vehicle

Change from:

^ November
1967

Month
ago

Year
ago

Totial financed at retail

265

-.20

1

118
120
13
9

- 12
- 3
- 2
- 3

- 23
- 19
1
0

565

19

-_91

20
1

- 86
- 5 '

New passenger
Used passenger
New commercial
Used commercial

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

527
38

-

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

Credit Sales
1967 - November
1967 - October
1966 - November

Per Cent
64
r66

-

62

V B a s e d 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. Cf
20551.
r - Revised.