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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
G.20

,x

June 2, 195U
SALES FINANCE COMPANIES
APRIL 1?5U '

>ales finance company holdings of instalment paper
on passenger automobiles increased slightly during April
following four months of decreases. Month-end balances outstanding amounted to an estimated 5*089 million dollars, 10
million, above the preceding month and 553 million above a
year ago. Total consumer instalment credit outstanding at
sales finance companies increased 9 million dollars to an
estimated 5,901 million on April 30.
The volume of credit extended on passenger cars
during April, estimated at 510 million dollars, was 23
million above the preceding month's volume and reflected
increased financing of both new and used cars. About 150
thousand new passenger cars and 25l thousand used passenger,
cars were financed during the month.
Wholesale automotive paper outstanding amounted to
an estimated 1,017 million dollars at the end of April, 6
million below the March level but 15U million above a ye.ar
ago. Outstanding balances of retail paper on commercial
vehicles also decreased during the month, while other types
of business credit increased.

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 modernisation loans
Personal loans
Business credit 1/
Retail automotive (commercial vehicles)
Wholesale automotive
Wholesale other than automotive
Other business credit

Apr. 30,
1951

Increase or decrease during;
Year ended *
Apr.
Apr.
195U
1953
Apr. 30. 195U

5,901

+ 9

+138

+589

5,089
336
8U
392

+10
- U
0
+ 3

+131'
+ 3
+ 1
0

+553
- 9
+ U

1,817

zA

377
1,017

+
+

+ Ul
- l

- 35
-172
+15U
- 13

m
375

5
6
3
2

+ 32
+ 2
+ 8

+ Ul

—

b

1/ Excludes some credit extended to business, such as credit arising from


factoring operations.


G.20

- 2 -

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

Type of credit
Consumer instalment credit

Apr.
195U

Change from:
Month Year
ago
ago , ,

New
Used
Other consumer goods paper
Repair and modernization loans
Personal loans
Business credit 1/
Retail automotive paper (commercial vehicles)
New
Used

+22

- 98

S 2

+23

- 99

281
229

Retail automotive (passenger cars)

528

+1U
+ 9

- 13
- 56

31

k

-

53

+ 2
0
- 3

92h

-52

-153

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

2.18

j a
20
11

+

8
0
9

- 2
- 1

- 11
- 7

783

-hi

-130

737
U6

-39
- 5

-117
- 13

18
92

- 3
- 2

-

3
2

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

Apr.
195U

Change from:
Month Year
ago
, ago

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

U31
150
251
lU
16

±12
+ 8
+ 8
- 1
- 2

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

379
336
ii3

ziZ
-Ik
- 3

n
<

- 32
- 26
- 8
- 8
- 68
- 58
- 10

1/ Excludes some credit extended to business, such as credit arising
from"factoring operations.