Full text of G.20 Sales Finance Companies : January 7, 1964

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

FEDERAL

r-^ssss^

t o 11 s 11 ( a I

RESERVE

release

January 7, 1964
SALES FINANCE COMPANIES
NOVEMBER 1963

Consumer instalment credit at sales finance companies increased
$115 million during November, to a total of $13.3 billion at the end of the
month. The rise featured increases of $47 million in retail automotive
passenger car paper, an equal amount in other consumer goods credit, and
$22 million in personal loans*
Sales finance companies acquired less of all types of consumer
instalment paper than in October, and, except for personal loans, less
than in November 1962. The companies financed 66 thousand fewer motor
vehicles at retail in November than in October and 33 thousand less than
in November a year earlier.
Business credit outstanding increased $153 million, reflecting
a rise in wholesale automotive paper which was substantially greater than
the increase for this type of credit in November 1962.
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 V
Retail automotive (commercial vehicles)
Wholesale automotive
Wholesale other than automotive
Other business credit

Nov. 30,
1963

Increase or decrease during:
Year ended
Nov.
Nov.
Nov. 30, 1963
1962
1963

13,302

+115

+126

+1,316

8,210
3,233
160
1,699

47
-i- 47
- 1
22

+ 90
+ 15
- 1
+ 22

+
+
+

770
266
11
291

5,570

+153

+ 70

+

536

755
1,563
424
2,828

- 1
+155
+ 8
- 9

+ 3
+ 36
+ 10
+ 21

+
+
+
+

117
227
79
113

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




G. 20

-2-

Cred.it Extended by Sales Finance Companies
(In millions of dollars)

Change from:
Type of credit

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

November
1963

Month
ago

Year
ago

1,013

-181

-57

593

-130

- 44

386
207

-102
- 28

- 23
- 21

219
7
194

- 37
- 2
- 12

- 25
- 1
+ 13

1,965

-338

+128

63

- 1,5

+

3

49
14

- 13
- 2

+
+

1
2

1,422

-247

+115

1,356

-243
- 4

+118
- 3.

66
5

- 16

+

6

- 60

+

4

2y Excludes some credit extended to business, such as that extended
by factoring subsidiaries.




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)

Change from:
November

Month
ago

334

-66

ill

140
170
15
9

-36
-24
- 6
0

-11
-27

553

=21

501
52

Credit Sales of New Passenger C a r s as a Per Cent
of Total Number Sold at Retail y

Credit Sales

Washington 25 > D. C.




Year
ago

1963

1 100

I

+ 4
+ 1

±31
+37
-6