Full text of G.20 Sales Finance Companies : January 6, 1955
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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM 0,20 ; ,Z-5> " January 6, 1955 ^ SAIES FINANCE COMPANIES / NOVEMBER 195U Passenger car instalment paper held by sales finance companies at the end of November was practically unchanged from October's high level of 5,U91 million dollars. Similarly, little change occurred in the other types of consumer credit holdings. Total consumer instalment credit held by sales finance companies at the end of November amounted to an estimated 6,325 million dollars, 10 million above the preceding month-end and 178 million above a year earlier. Credit extended on passenger cars in November, estimated at 555 million dollars, was practically unchanged from October's volume but was 38 million above the volume of a year ago. A reduction in new car paper acquired during the month was offset by an increase in purchases of used car paper. The larger volume of used car paper reflected an increase in the average instalment contract, since the number of used cars financed, 23it thousand, was slightly below October. Approximately 161; thousand new cars were financed during November. Following the decreases of recent months, wholesale automotive paper outstanding increased 73 million dollars during November as dealer stocks were built up. Month-end balances were estimated at 55U million dollars. Small decreases occurred in the other types of business credit outstanding. Outstanding Credit Held by Sales Finance Companies (In millions of dollars) Type of credit Nov. 30, 1951 Increase or decrease during: Mov. Nov, Year ended 195b 1953 Nov. 30, 1951 + 10 0 Consumer instalment credit Retail automotive (passenger cars) Other consumer goods paper Repair and modernization loans Personal loans 6,325 5,191 103 + 7 Business credit 1 / Retail automotive (commercial vehicles) Wholesale automotive Wholesale other than automotive Other business credit 1,302 357 55U 36 355 + + - 6o 6 73 3 3h0 81 + - 3 0 I t +Jk + h9 - I t + 3 + 6 - 52 21 - 28 2 - 1 +178 +170 — 28 + 2 + 3k -U53 - 99 -301 - 2 - 51 l/ Excludes some credit extended to business, such as credit arising from factoring operations. G.20 — 2 Credit Extended by Sales Finance Companies (in millions of dollars) Type of credit Nov, 195U ; Consumer instalment credit 660 Change from: Month Year ago ago ' + 11 + 57 Retail automotive (passenger cars) . New Used •5# 333 222 0 - 11 + 11 + 38 + Ul — 3 Other consumer goods paper Repair and modernization loans Personal loans - 37 5 63 + .3 0 + 8 + 8 - 2 + 13 . 75U +201 - U7 Retail automotive paper (commercial vehicles) New Used . -30 21 9 - Wholesale automotive paper New (passenger and commercial) Used (passenger and commercial) 630 593 37 +221 +215 + 6 - 35 - 28 - 7 12 82 - h - 11 . + 1 - .8 Business, credit 1/ • " Wholesale other than automotive Other business credit 1/ ' 5 3 2 - 5 2 3 Number of Motor Vehicles Financed by Sales Finance Companies (In thousands) , Type of vehicle Nov. . 1954 Change from: Month Year ago ago Total,financed at retailNew passenger Used passenger New commercial Used commercial 127 16U 23k -15, . - 1 1 :+ 2 T 10 " - 1 : - 8 - 2: - 1 - 3 - 3 Total financed at wholesale New (passenger and commercial) Used (passenger and commercial): 295 263 32 + 98 + 95 + 3 15 lU • zJL — .27 - 9 1/ Excludes some credit extended to business, such as credit arising •from factoring, operations,- , . . " 7\ • . ' "
