Full text of G.20 Sales Finance Companies : July 5, 1966

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L£S&?V.

FEDERAL
statistical

RESERVE

release

t
G. 20

July 5, 1966

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SALES[FI'NMCE COMPANIES - 5^X1
MAY 1966

Sales finance companies increased their holdings of consumer
credit by - $ 7 2 rail1ion in May; as in April, all types of credit except home
repair and modernization loans contributed to this rise.
Total consumer instalment credit extensions rose $29 million during
May, the bulk of the increase accounted for by a $24 million increase in other
consumer goods extensions.
Business credit outstanding expanded $189 million in May compared
with a $147 million decline for the same period a year ago. The wholesale
automotive category has contributed the largest share to the sizeable increase
in business credit over the past eight months. Business extensions, after a
sharp dip in April, registered an increase of $80 million in May.
Outstanding Credit Held by Sales Finance Companies„
(In millions of dollars)

Type of credit

Consumer instalment credit
Retail automotive (passenger cars)
Other consumer goods
Home repair and modernization •
Personal loans
Business credit 1/
Retail•automotive
(commercial vehicles)
Wholesale automotive
Wholesale other than automotive
Other business credit

, May 31/
1966

Increase2 or decrease during:
May
May
Year ended
May 31, 1966
1966
1965
167

16,263

1005

9,289
4,479
113
• 2,382

28
31
- 1
14

95
49
- 2
25

370
502
- 21
254

7,665

189

-147

1,052

986

17

4

107

3,058
614
3,007

151
12
9

-180
9
20

684
98
163

: :

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




-

G»20.
Credit Extended by Sales Finance Companies
(In millions of dollars)

Change from:
Month
Year
ago

May

Type of credit

1966
-Consumer instalment credit

New
Used

•

Business credit 1/
Retail automotive (commercial vehicles)

.

.

Wholesale automotive paper
New (passenger and commercial)
Used (passenger, and commercial)
Wholesale other than automotive
Other business credit 1/

-15_

•659

--29

433
226

Other consumer goods .
Home repair- and modernization
Personal loans

New
Used

_29_

1,254

Retail automotive (passenger cars)

8
- 6

347
6
242

24
1
• 2

2,450

_80_

97
76
21

.

- 3
- 26

-

32
1
13

_124_

- 4

18

0
- 4

17
1

1,697

72

1,636
61

71
1

159
497

6
6

-

_27_

-

29
2
20
59

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




,

f

G.20

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

Type of vehicle

May
1966

Total financed at retail

'337

New passenger
Used passenger
New commercial
' Used commercial

•

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

.

Change from:
Month
Year
ago
ago
-28

1

- 3
-25
- 1

.

151
161 .
16
9

2
- 2- 2
3

654

-31_

_10_

606
48

31
0

12
- 2

. ;

1

-

Credit Sales of New Passenger Cars as a Per Cent
of Total Number. Sold a.t Retail JL/

Credit Sales

Per Cent

1966 - May

76 '

1966 - April

67

1965 - May

.

64

\f 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, D. C. 20551.