Full text of G.20 Sales Finance Companies : July 7, 1965

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F E D E R A L

R E S E R V E

release

July 7, 1965
SALES FINANCE COMPANIES MAY 1965
Consumer credit outstanding at Sales Finance Companies continued
to make strong gains in May, increasing $167 million over April. More than
half of this rise was in retail auto paper, up. $95 million. An increase of
$49 million in other consumer goods credit was more than seasonal. Loans
for home repair and modernization fell slightly.
Total extensions, at #1.2.billion, were $45 million below the
previous month, reflecting small reductions in retail passenger, automotive
paper and in personal loans.
Business credit outstanding decreased $147 million, entirely in
wholesale automobile paper.
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 l/
Retail automotive (commercial vehicles)
Wholesale automotive
Wholesale other than automotive
Other business credit

Increase or decrease during:
Kay 31j
: Year ended
May
- May
1965
May 31, 1965 :
1965
1964
15,158

16%

118
95
49 3
2" - 2"
13
25
~

8,919
3,977
134
2,128

-

6/615

zM

879
2,374.
516
2,844

4 .
-180
- 9
20

1/ Excludes some credit extended to ^business, such ;
factoring subsidiaries.




114

1^131

-

430
394
15
322
185

—

16
15
. 0
0

that extended by

58
48
40
39

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

Type of credit
Consumer instalment credit
Retail automotive (passenger cars)
-. Used
Other consumer goods
Home repair and modernization
Personal loans
Business credit 1/
Retail automotive (commercial vehicles 1
New
Used
Wholesale automotive paper
ITev (passenger and commercial)
Used (passenger and commercial)
Wholesale other than automotive
Other business credit l/

May
1965"
1,259

Change from:
Year •
Month
ago
ago
- 45

688

— 60

456
252

- 34 '
-26

315
7
229

28
1
•- 14

16
0
38

2,326.

-114

164

79

- 12

• 59
20

- 12
0

- 10
•1

-

7
4

1.670

-_35_

186

1,607
. 63

- 75
- 10

190
- 4

1%)
438

- 5
- 12

- 68
49

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




->

G.20

llumber of M^tor Vehicles Financed by Sales Finance Companies
(in thousands)

Type of vehicle

Total financed at retail •
New passenger
Used passenger
New commercial
Used commercial

-n.

Ml

.

154
186
17
8

Total financed at wholesale

644

New (passenger and commercial)
Used (passenger and commercial) ,

Change from:
Year
Month
ago
ago

-May
.1965

594
50

. y-13
-22
- 1
1

- 8
v- 1
- 1
5.2

'
, -28
-6

/

56
- 4

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

Per Cent '

1965 - May

63

1965 - April

64

1964 - May

62

l/ 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*
' .