Full text of G.20 Sales Finance Companies : January 7, 1966
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FEDERAL statistical RESERVE release January 7, 1966. ,/ SALES:FINANCE COMPANIES November 1965 Other consumer goods paper rose $63 million during November for the bulk of the total increase in ^total instalment"credit at sales finance companies. Retail passenger auto paper and personal loans also shotted gains, but repair and modernization loans dipped slightly. The $87 million increase in total instalment credit for November 1965 was in contrast to the $3 million decline in November 1964. In that month, the use of auto credit was sharply reduced as new auto sales tumbled because of the strike. New credit extensions in November were up $70 million f o i a month rij ago and $223 million from a year earlier. . The increases in most categories were greater than usual for this time of year. • ,> Business credit, after several months of decline, increased for the second consecutive month.. As in the past, most of this increase occurred in the area of wholesale automobile credit. » Outstanding Credit Held by Sales Finance Companies . (In millions of dollars) Type of credit Increase or decrease during: November 30, November November Year ended 1964 Nov.30.1965 1965 1965 Consumer -instalment credit Retail automotive (passenger cars) Other consumer goods "Home repair and modernization Personal loans , Business credit \f Retail automotive (commercial vehicles) Wholesale automotive Wholesale other than automotive Other business credit subsidiaries. 87 15,963 9,210 4,332 126 2,295 - 9 63 2 17 6,471 7 211 14 - 2 - 230 928 2,106 523 2,914 3 75 50 2 . 24 93- 15 127 6 - 25 1,341 512 528 18 319 1,084 71 824 79 110 G.20 Credit Extended by Sales finance Companies (In millions of dollars.) Type of credit Consumer instalment credit Change from: Year Month • ago ago November 1965 '1,293 . ' Retail automotive (passenger cars) • New • "Used 2,619 RetS>l automotive (commercial vehicles) Wholesale other than automotive ' Other business credit 1/ 154 8 19 - 42 0 27 339 ' 139 15 9 1 33 . 87 911 I • 26 1 0 21 • 5 1,908 166 ' 797 1,-843 • • 65 158 8 68 19 ' Wholesale automotive .paper New (passenger and commercial) Used (passenger and commercial) 27 368. 6 256 - - Business credit _1/. . " New Used 663 437 226 Other consumer goods Home repair and modernization Personal loans 223. : - 162 462 . 3 169 • 789 8 - . 36 52 1/ Excludes some credit extended to'business, such as that extended by factoring subsidiaries. . G.20 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) November 1965 Change from: < Month Year ago ago 333 7 51 152 157 17 7 2 9 - 4 o 46 0 4 1 683 JtJL. 256 644 39 46 - 5 260 - 4 Credit Sales, of New Passenger Cars as a Per Cent of Total Number Sold at Retail 1/ Credit Sales - Per Cent 1965 - November 60 1965 - October 57 1964 - November 54 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. C. 20551.
