Full text of G.20 Sales Finance Companies : July 1, 1968

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statistical

release
~~ Scojjus .
WALlACfi

G. 20

July 1, 1968
j SALES FINANCE COMTANIES
-4

- MAY 1968

During the month of May, sales finance companies continued their
recovery from the slowdowns in which they: found themselves most of last year.
For the third consecutive month they registered an incfrease in passenger car
paper outstanding which was more than the usual seasonal increase for the
month. In addition, in other consumer goods paper and personal loans outr-. ~ ~
standing the increases over the past two months have been more tfet^n seasonal.
Only repair and modernization loans outstanding continue to lag. ^
|
Passenger car and other consumer goods extensions in May showed
moderately strong increases oyer the amounts acquired during April, but
personal loan extensions declined from the amount purchased in the previous
month. Sales finance companies acquired more paper in each of the three
categories in May, however, than they did in May 1967.
Business credit outstanding at sales finance companies increased
$331 million in May. Wholesale automotive paper outstanding, accounted for
over two-thirds of this increase.
Outstanding Credit Held by Sales Finance. Companies
— I
(In millions of dollars)
Type of credit

Consumer instalment credit
Retail automotive (passenger cars)
Other consumer goods
Heme repair and modernization
Personal loans
Business credit 1/

/

Retail automotive (commercial
vehicles)
Wholesale automotive
Wholesale other than automotive
Other business credit

May 31,
1968

Increase or ^crease during
Yea: ended
ear
May
May 31.r1968
1967

1968

16,892
9,004
• 4,973
83
2,832

25
73
16
- 3
16.

-146
222
-22
223

-2/

65

8.492
1,070
3,176
705
3,541

2%7

22
2
1

37
229
13
52

799

10
21

13
333
135
318

6

28

II Excludes some credit extended to business, such as that extended by
factoring subsidiaries.
2/ Less than 0.5 million dollars.




;G.20

-2-

^

;

. . .

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

May
1968.

Type of credit

Consumer instalment credit

•

New (passenger and commercial)
"Used (passenger and commercial)
Wholesale other tha.i automotive
Other business credit

24
1

43
14

26
- 1
-13

.19
- 6
25

3,174

348

130

.Retail automotive (commercial vehicles)

.Wholesale automotive paper

5Z

'389
2
279

Business credit 1/

;

95

25

478
225

,

Other consumer, goods
• Home repair and modernization
Personal loans

New
Used

37

703

21

20

98
32

17
4

10
10 '

2,115

271

• 428

2,063
52

270
1

433
. - 5

205
724

• 14
43

52
.216

W 7 3

Retail automotive (passenger cars)
New
Used

Change from:
Year
Month
ago
ago

.

.

_1/Excludes. some credit extended to business, sudh as that extended by
factoring subsidiaries.




716

G. 20
Number of Motor Vehicles Financed by Sales Finance Companies
(In thousands)

Type, of vehicle

May
1968

Total financed at retail

Change from:
Year
Month
ago
ago
,

331

' New passenger
Used passenger
New commercial
Used commercial
Total financed at wholesale
New (passenger and commercial)
Used (passenger and commercial)

151
143
24
13

8
1" ' '
r;V

6
1/:.
3 -1

I

i
6
V
1
2

733

120

132

.698
35

116
4

137
-5

1/Less than 0.5 million dollars.

The table -presenting credit sales of new passenger cars as a per
cent of total number sold at retail will no longer appear in this release.
Information on number of cars sold on credit and average notes of major
lenders appears in release G.26. Copies of this release can be obtained
by writing to the Division of Research and Statistics, Board of Governors
of the Federal Reserve System, Washington, D. C., 20551.




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