Full text of G.20 Sales Finance Companies : January 7, 1963

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FEDERAL
statistical

RESERVE

release

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G-2"

;

7

I J B K A R Y

January

7» 196?

8aL .S FINANCE COMFjJfl^S*
'%l R E S ^ 5 - / '

N0V.SMB ,;R 1962

Consumer instalment credit held by sales finance companies at
the end. of November totaled.$11,986 million, $126 million more than a
month earlier. A $90 million rise in outstanding credit on passenger
automobiles accounted for most of the gain, but other consumer goods
paper and personal loans outstanding also rose moderately.
Extensions of consumer instalment credit, at $1,070 million,
were $38 million less than in October. Lower extensions on new passenger
cars were largely responsible for the difference. Sales finance companies
financed 151 thousand new passenger cars in November, 16 thousand fewer
than in October. •
Business credit outstanding at sales finance companies rose
$70 million to 15,034 million as all types of business credit increased.
Extensions of business credit declined during November, however, witn
most of the reduction in wholesale automotive financing.
Outstanding Credit Held by Sales Finance Companies
(in millions of dollars)

Type of credit

Consumer instalment credit
Retail automotive (passenger cars)
Other consumer goods paper
Repair and.modernization loans
Personal loans
Business credit 1/
Retail automotive (commercial vehicles
Wholesale automotive
Wholesale other than automotive
Other business credit

Nov. 30,
1962

Increase or decrease during:
Year ended
Nov.
Nov.
1961 Nov. 30, 1962
1962

11,986

+126

+12

886

7,440
2,967
171
1,408

+ 90

-10

607

+ 15
- 1

+11

+

3

+ 22

+

6

27
11
241

5,034

+ 70

+166

666

638
1,336
345
2,715

+ 3
+ 36
+ 10
+ 21

- 1
+ 94

+ 103
+ 217
+ 43
+ 303

+

6

+ 67

* Revised data, not comparable to those previously published. For back figures on
consumer instalment credit outstanding, see Federal Reserve Bulletin for December
1962, pp. 1676-79 and pp. 1696-97• Other back figures may be obtained by writing
to the Division of Research and Statistics, Board of Governors of the Federal Reserve
System, Washington 25, D.C.

^

.

.

.

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




G.20

- 2 Credit Extended by Sales Finance Companies
(In millions of dollars)

Nov.
1962

Change from:
Year
Month
ago
BKO

1,070

- 38

+129

Retail automotive (passenger cars)
New
Used

637
409
228

- 45
- 45
0

+113
+ 79
+ 34

Other consumer goods paper
Repair and modernization loans
Personal loans

244
8
181

0

- ;1
8

- 19
- 2
+ 37

1,837
60
48
12

-195
- 4
- 2
- 2

+227
+ 12
+ 12
0

1,307
1,238
69

-173
-158
- 15

+200
+210
- 10

113
357

+ 1
- 19

+ 14
+ 1

Type of credit

Consumer instalment credit

Business credit 1/
Retail automotive (commercial vehicles)
New
Used
Wholesale automobile paper
New (passenger and commercial)
Used (passenger and commercial)
Wholesale other than automotive
Other business credit If

+

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




G.20

- J "

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

Type of vehicle
Total financed at retail
New passenger
Used passenger
New commercial
Used commercial
Total financed at wholesale
New (passenger and commercial)
Used (passenger and commercial)

Nov.
1902

Chance from;
Year
Month
ago
ago

367

-20

±44

151
197
11
8

-16
- 1
- 3
0

+26
+24
- 3
- 3

522

-72

+51

464
58

-56
-16

+64
-13

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

Credit sales
1962 - November
October
1961 - November

Per cent
56
56
53

1/ Based 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 25, D. C.