Full text of G.20 Sales Finance Companies : July 7, 1964

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FEDERAL
statistical

will

RESERVE

release

G. 20

J u l y 7, 1964
SALES FINANCE COMPANIES
MAY 1964

Consumer i n s t a l m e n t c r e d i t o u t s t a n d i n g a t s a l e s f i n a n c e
companies r o s e $134 m i l l i o n d u r i n g May, w i t h a more t h a n s e a s o n a l
e x p a n s i o n i n p a s s e n g e r car c r e d i t a c c o u n t i n g f o r n e a r l y 90 p e r c e n t
of t h e i n c r e a s e .
Gains of $3 m i l l i o n and $15 m i l l i o n i n o t h e r
consumer goods p a p e r and p e r s o n a l l o a n s , r e s p e c t i v e l y , a l s o were
somewhat more t h a n s e a s o n a l .
E x t e n s i o n s of consumer i n s t a l m e n t c r e d i t , a t $1,194
m i l l i o n , were about t h e same as i n t h e p r e c e d i n g month. P a s s e n g e r
car and p e r s o n a l l o a n e x t e n s i o n s f o l l o w e d t h e i r u s u a l s e a s o n a l
p a t t e r n , b u t o t h e r consumer goods e x t e n s i o n s showed a c o n t r a s e a s o n a l
rise.
C r e d i t s a l e s on new p a s s e n g e r c a r s amounted t o 61 p e r c e n t
of t h e t o t a l number s o l d by r e t a i l e r s i n May* T h i s was up 1
p e r c e n t a g e p o i n t from A p r i l b u t t h e same p r o p o r t i o n as i n May a
y e a r ago.
O u t s t a n d i n g C r e d i t Held by S a l e s F i n a n c e 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
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)
Other consumer goods paper
Repair and modernization l o a n s
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 other than automotive
Other b u s i n e s s c r e d i t

May 31,
1964

I n c r e a s e or decrease during:
May
Year ended
May
1963
May 31, 1964
1964

14,027

+134

+ 77

+1,444

8,439
3,583
149
1,806

+118
+ 3
- 2
+ 15

+139
- 78
0
+ 16

+
+
+

711
447
13
299

6,428

+ 31

57

+

724

821
2,326
476
2,805

+ 16
+ 15
0
0

+ 17
- 7
+ 2
+ 45

+
+
+
+

118
524
52
30

1/ Excludes some c r e d i t extended t o b u s i n e s s , such as t h a t extended by
factoring subsidiaries.




-2-

G. 2 0

C r e d i t Extended by S a l e s Finance Companies
( I n m i l l i o n s of d o l l a r s )
Change from:
May
1964

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 c a r s )
New
Used
Other consumer goods paper
Repair and modernization l o a n s
Personal l o a n s
B u s i n e s s c r e d i t JL/
R e t a i l automotive (commercial v e h i c l e s )
New
Used
Wholesale automotive paper
New ( p a s s e n g e r and commercial)
Used ( p a s s e n g e r and commercial)
Wholesale o t h e r than automotive
Other b u s i n e s s c r e d i t \ l

j
i

Month
ago

Year
ago

1,194

-

7

-i- 87

697

-

9

- 19

446
251

-

1
8

+ 3
- 22

299
7
191

+ 13
- 11

+ 95
- 1
4 - 12

2,162

-144

-:-l66

82

-

8

+

66
16

-

5
3

+

0

9

9
0

77

1,484

- 1 0 0

1,417
67

- 98
- 2

+ 82
- 5

207

- 22
- 14

-!- 81
- 1

389

1/ Excludes some c r e d i t extended t o 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 s u b s i d i a r i e s .




G.20

-3Number of Motor V e h i c l e s Financed by S a l e s Finance Companies
( I n thousands)
Change from:
Type of v e h i c l e

Total financed at r e t a i l
New p a s s e n g e r
Used p a s s e n g e r
New commercial
Used commercial
Total f i n a n c e d a t w h o l e s a l e
New ( p a s s e n g e r and commercial)
Used ( p a s s e n g e r and commercial)

May
1964

Month
ago

Year
ago

382

- 6

-35

161
194
18
9

- 1
- 6
0
+ 1

- 2
-34
+ 1
0

592

-35

±21

538
54

-33
- 2

-:-28
- 7

Credit S a l e s of New Passenger Cars as a Per Cent
of Total Number Sold a t R e t a i l 1/
Credit S a l e s

Per Cent

1964 - May
April

61
60

1963 - May

61

JL/ Based on new car i n s t a l m e n t c o n t r a c t s acquired by banks, s a l e s
f i n a n c e companies, o t h e r 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 t o the D i v i s i o n of
Research and S t a t i s t i c s , Board of Governors of the Federal Reserve System,
Washington, D. C. 20551