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BOARD OF GOVERNORS OF THE FEDERAL HESF1VE SYSTEM
J a n u a r y 7, 1959

: GOVERNOR
0r>
SALES HMANCE COMPANIES

UTBRARY

November 1958

%

RESERVE-^
S a l e s f i n a n c e company h o l d i n g s of r e t a i l p a s s e n g e r c a r i n s t a l m e n t paper d e c r e a s e d $82. m i l l i o n d u r i n g November 1958•to an
e s t i m a t e d $ 6 , 3 9 5 m i l l i o n a t t h e end of t h e month.; T h i s compares
w i t h d e c r e a s e s of $27 m i l l i o n and $28 m i l l i o n during t h e same month
of 195.7 and 1956 r e s p e c t i v e l y . T o t a l consumer i n s t a l m e n t c r e d i t a t
s a l e s f i n a n c e companies d e c l i n e d $69 "million d u r i n g t h e month--to
$8,708 m i l l i o n .
'
R e t a i l c r e d i t extended f o r p u r c h a s e s of p a s s e n g e r - a u t o m o b i l e s
d e c l i n e d $lt7 m i l l i o n r e f l e c t i n g d e c r e a s e s i n e x t e n s i o n s of c r e d i t f o r
both new and used p a s s e n g e r c a r s . About 93 thousand new c a r s and 178
thousand u s e d c a r s were f i n a n c e d a t r e t a i l .
•Wholesale automotive p a p e r o u t s t a n d i n g i n c r e a s e d $210 m i l l i o n d u r i n g November. T h i s compares with an i n c r e a s e of $305 m i l l i o n
d u r i n g t h e same month a y e a r ago. A l l o t h e r t y p e s o f b u s i n e s s c r e d i t
on b a l a n c e i n c r e a s e d s l i g h t l y .
O u t s t a n d i n g C r e d i t Held by S a l e s Finance Companies
(In m i l l i o n s o f d o l l a r s )

Type of c r e d i t ;

! I n c r e a s e or d e c r e a s e during;
Nov. 30j : Nov., Nov. | Year ended
1958
| 1958 1957 (Nov. 30> 195)8
t
8 56
8,708 '"i - 69

. ,'

Consumer i n s t a l m e n t c r e d i t
R e t a i l automotive ( p a s s e n g e r c a r s )
Other consumer goods paper
R e p a i r and m o d e r n i z a t i o n l o a n s
Personal loans

6 , 3 9 5 1 - 82 - 27
1 , 5 7 1 ;' + 11 - 2
0 - 2 ;1
19 ;
723 !.• 2 + 10
f
+21& + 298
2,22^

Business c r e d i t l /
R e t a i l automotive (commercial v e h i c l e s )
Wholesale automotive
Wholesale o t h e r t h a n automotive
Other b u s i n e s s c r e d i t

U69
866
100
788
I

1
- 8 - lU |1
+ 210 + 3 0 5 !1
1
0 !!
i1 +
!+ 11 ' + 7 1
. 1
iL

- 1 ,115
183
2
+
78

+

—

L21

•

7U
U30
1
82

1 / Excludes some c r e d i t extended t o b u s i n e s s , such as t h a t extended by
factoring subsidiaries.



G.20

- 2 C r e d i t Extended by S a l e s Finance Companies
( I n m i l l i o n s of d o l l a r s )

Type o f c r e d i t

| Change from:
Year
j Month
ago
ago
!

NOV.

1958

!

Consumer i n s t a l m e n t c r e d i t
R e t a i l automotive ( p a s s e n g e r c a r s )
New
Used
Other consumer goods p a p e r
R e p a i r and m o d e r n i z a t i o n l o a n s
Personal loans
Bus iness c r e d i t l /
R e t a i l automotive (commercial v e h i c l e s )
Mew
Used

687
U37
2bZ
195

- 51
r%7
- 2$
- 22

.-.SI.
-129
-133
• h

lh9
5
96

- 10
0
+ 6

+ 27
+ 5
+ 5

1,073

+ 32U
- 6
- 5
- l

-2hh
0
0
0

+ 353
- 3

-252
-269
+ 17

- H 11

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)

86U
798
66

Wholesale o t h e r t h a n automotive
Other b u s i n e s s c r e d i t 1 /

37
136

1

: - 6
- ill
i

+

1 / Excludes some c r e d i t extended to b u s i n e s s , such as t h a t
extended by f a c t o r i n g s u b s i d i a r i e s .




0
8

Number o f Motor V e h i c l e s Financed by S a l e s Finance Companies
( I n thousands)
——!——

———

-

Type o f v e h i c l e
Total financed by 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
Total financed at wholesale
New ( p a s s e n g e r and commercial)
Used ( p a s s e n g e r and commercial)

Chango from:
Year
Month
ago
ago

Nov.
1958

|

291
" 93
178
10
10

- 39

377
317
60

+ 132
+ 136
- h

-

-

- 50
+ 8
- 1 ~- 2

U

- 23
- 2
- 3

j

- 85
-103
+ 18

i

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 P e r Cent
of T o t a l Number Sold a t R e t a i l 1 /
Credit Sales
1958 - November
October
1957 - November

P e r Cent
^
(r
^

l / 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 b a n k 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 mobile 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 b y 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 o f Governors of
t h e F e d e r a l Reserve System, Washington 25> D. C.