Full text of G.20 Sales Finance Companies : July 5, 1960
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A GO I M O T S L T B R A R Y BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM J u l y 5 # i960 mm* SALES FINANCE COMPANIES May i960 R e t a i l passenger car instalment paper held by s a l e s f i nance companies increased $93 m i l l i o n during May to $7 631 m i l l i o n • « the end of t h e month. The r i s e compares with an increase of " $136 m i l l i o n a year ago and a decline of $80 m i l l i o n i n May 1958. To ^ 1 outstanding consumer c r e d i t a t s a l e s f i n a n c e companies i n creased $140 m i l l i o n to $10 744 m i l l i o n which was $1 655 m i l l i o n above a year ago. ' C r e d i t extended by s a l e s finance companies f o r automobile purchases by consumers declined $23 m i l l i o n from t h e previous month. Contracts acquired amounted to 157 thousand f o r new passenger c a r s and 241 thousand f o r used passenger cars* , Wholesale automotive paper outstanding a t the end of May was $33 m i l l i o n higher than a t t h e beginning of the month. A l l o t h e r types of business c r e d i t outstanding increased $26 m i l l i o n . ' ; •Outstanding C r e d i t Held by Sales Finance Companies ( i n m i l l i o n s of d o l l a r s ) Type of c r e d i t May 31 . I960 Consumer instalment, c r e d i t R e t a i l automotive (passenger cars) Other consumer goods paper , Repair and modernization ldans Personal loans Business c r e d i t 1 / R e t a i l automotive (commercial v e h i c l e s ) Wholesale automotive Wholesale o t h e r than automotive Other business c r e d i t I n c r e a s e o r decrease during; May I960 May Year ended 1959 May 31, I960 +1'4Q +168 +1.655 7,631 2.132 45 936 + + + + +136 + 23 +. 2 + 7 4.000 ±J2 + 92 + + 10 + 33 - 3 + 19 + 14 + 63 + 1 + 14 + 111 + 220 + 32 + 300 10.744 •618 2,078 163 1.141 93 36 3 8 " + 952 + 527 + 23 + 153 663 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 sub si d i a r i e s . G.20 - 2 - C r e d i t Extended by Sales Finance Companies (In m i l l i o n s of d o l l a r s ) Type of c r e d i t Consumer i n s t a l m e n t c r e d i t R e t a i l automotive (passenger cars) New Used Other consumer goods paper Repair and modernization loans Personal loans Business c r e d i t l / R e t a i l automotive (commercial v e h i c l e s ) Hew Used Wholesale automotive paper New (passenger and coranercial) Used (passenger and commercial) Wholesale o t h e r than automotive Other business c r e d i t l / Change from: Year Month ago ,2.6° May I960 264 -11 -12 + 43 + 6 + 23 - 15 192 6 114 + 4 + 1 - 7 + 17 + 3 + 15 1 493 'To 47 13 * - +102 . + 4 T~Z 0 .1 223 "1,135 88 ±_2 +16 - 7 + 80 - 3 0 - 3 + 3 + 18 983 4 5 . 3 3 2 1 a / Excludes some c r e d i t extended t o business f 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 . G.20 — 3 - Number of Motor Vehicles Financed by Sales Finance Companies (In thousands) Type of vehicle Total financed by r e t a i l New passenger Used passenger New commercial Used commercial Total financed a t wholesale New (passenger and commercial) Used (passenger and commercial) May I960 !£L 157 2kl 16 13 n 31 Change from? Month Year ago aso -1.0 - 5 - 4 - 1 0 + 1 "+12 -12 0 + 1 + 1 + 7 - 6 325 +40 - 5 Credit Sales of New Passenger Cars as a Per Cent of Total Number Sold a t R e t a i l 1 / Credit Sales i960 - May April 1959 - May Per Cent 60 60 56 l / Based on new car instalment contracts acquired by banks s a l e s finance companies ? other f i n a n c i a l i n s t i t u t i o n s ^ and automobile d e a l e r s . Data f o r p r i o r months may be obtained by w r i t i n g to the Division of Research and S t a t i s t i c s Board of Governors of the Federal Reserve System, Washington 25 D. C.