Full text of G.20 Sales Finance Companies : July 5, 1962

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

FEDERAL

rofGow.-.

statistical

RESERVE

i c : f- 'i 5

' • f*AL RE^. • •

fVvw
July 5, 1962

G.20
SALA^]^#CgtOi)&Ni3S
MAY 1962

Consumer instalment credit at sales finance companies amounted
to $11,199 million at the end of May, up $78 million for the month and
$340 million for the year-period# The May increase of $124 million in
retail credit on passenger automobiles was offset in part by a decline
in other consumer goods paper. All types of consumer credit except
automobile were above year-earlier levels.
Extensions of instalment credit, amounting to $1,046 million
in May were larger than in either of the two preceding months. The
increase was concentrated in extensions on new and used passenger cars.
Extensions of other types of consumer instalment credit showed little
change during the month and continued near the year-ago volume. Sales
finance companies financed 150 thousand new and 221 thousand used
passenger cars in May, 27 thousand more cars than in the preceding month.
A 166 million rise in May, following a moderate April decline,
brought the business credit total to $4,073 million. Most types of
business credit shared in the May rise and all were considerably larger
than on May 31, 1961.
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 l/
Retail automotive (commercial
vehicles)
Wholesale automotive
Wholesale other than automotive
Other business credit

May 31,
1962

Increase or decrease during
Year ended
May
May
May
31, 1962
1961
1962

11,199

+ 78

-24

+340

3,021
167
1,245

+124
- 57
+ 2
+ 9

-39
+11
0
+ 4

- 53
+197
+ 21
+175

4,073

+ 66

+15

+410

573
1,807
162
1,531

+ 17
+ 30
- 1
+ 20

- 1
-15
- 1
+32

+ 31
+154
+ 23
+202

6,766

1j 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)

Type of credit

Consumer instalment credit
Retail automotive (passenger cars)
New . ,
Used
Other consumer goods paper
Repair and modernization loans
Personal loans
Business credit l/
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/

May
1962

Change from:
Month
Year
ago
ago

1,046
651
400
251

+
+
+
+

49
53
34
19

+155
+154
+107
+ 47

223
11
161

+
-

4
2
2

- 38
+ 2
+ 37

+143
+ 4
' + 4
0

+407
+ 14
+ 12
+ 2

1,395
1,298
97

+123
+122
+ 1

+359
+341
+ 18

48
218

- 2
+ 18

+ 8
+ 26

1,724
63
49*14

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




G.20

- 3 -

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

Type of Vehicle

May

1962
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;
Year
Month
a
£°
ago

596

+26

221

+15-2/
+ 2
- 3

150
16
9
599
509
90

66

+48
+ 5

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

Credit Sales
1962 - May
April
1961 - May

Per cent
57
56 r
55

r - Revised
\J 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.
2/ April figure for number of used passenger vehicles financed
at retail revised to 206 thousand vehicles.