Full text of G.20 Sales Finance Companies : June 3, 1958

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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
G.2CF

June 3f 1958
SALES FINANCE COMPANIES
A p r i l 1958

S a l e s f i n a n c e company h o l d i n g s of r e t a i l p a s s e n g e r c a r i n s t a l m e n t paper d e c r e a s e d $112 m i l l i o n during A p r i l t o an e s t i m a t e d
$6,968 m i l l i o n a t t h e end of t h e month. This compares w i t h i n c r e a s e s
of $22 m i l l i o n i n A p r i l 1957 and $lt2 m i l l i o n i n A p r i l 1956. T o t a l
consumer i n s t a l m e n t c r e d i t a t s a l e s f i n a n c e companies d e c r e a s e d $8U
m i l l i o n t o $9,200 m i l l i o n a t t h e month end.
R e t a i l c r e d i t extended on passenger automobiles i n c r e a s e d
by $lt2 m i l l i o n , somewhat more t h a n s e a s o n a l l y , r e f l e c t i n g i n c r e a s e s
i n both new and used passenger c a r e x t e n s i o n s . I n A p r i l about 103
thousand new and 221 thousand used passenger c a r s were f i n a n c e d a t
retail.
Wholesale automotive paper o u t s t a n d i n g decreased $111 m i l l i o n during A p r i l t o an e s t i m a t e d $1,68U m i l l i o n . T h i s compares with
an i n c r e a s e of $50 m i l l i o n d u r i n g t h e same p e r i o d a year ago. A l l
o t h e r t y p e s of b u s i n e s s remained r e l a t i v e l y unchanged.
O u t s t a n d i n g C r e d i t Held 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 )

Type of c r e d i t

1
! Apr. 30,
1958
Ij

I n c r e a s e o r decrease during:
Aprilj April)
Year Ended
1958 | 1957 ! A p r i l 30, 1958

!

Consumer i n s t a l m e n t c r e d i t
R e t a i l automotive ( p a s s e n g e r c a r s )
Other consumer goods paper
Repair and m o d e r n i z a t i o n 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 o t h e r t h a n automotive
Other b u s i n e s s c r e d i t

j 9,200
. ij1
ji 6,968
j! 1 , 5 1 5
20
1
j|
697
i
2,981

- 8U

+56

+ 96

-112
• 23
• 1
+ h

•22
+ 2U
0
+ 10

-2hh
+ 236
- 2
+106

-11U

+ 59

+ 87

U91
1,68U
107
702

- 7
-111
+ 3
+ 1

• 1
+ 50
+ h
* u

- ItO
+ 67
- 52
+ 112

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




G.20

-

2 -

C r e d i t Extended by Sales Finance 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)
New
Used

Change jFrom:
Year
Month
ago
_®go_

April
1958
759
496
265
231

+35
+52
+22
+20 ...

- 96
-13%
^125
- 12

170
2
91

- 7
+ 1
- 1

+ 35
+ 1
+ 4

947
39
26
13

-59
+ 3
- 1

-350
- 10
- 7
- 3

Wholesale automotive paper
New (passenger and commercial)
Used (passenger and commercial)

76O
609
71

-63
-63 0

-327
-341
+ 14

Wholesale o t h e r than automotive
Other b u s i n e s s c r e d i t 1 /

34
114

- 4
+ 5

- 13
0

Other consumer goods paper
Repair and modernization loans
P e r s o n a l loans
Business c r e d i t l /
R e t a i l automotive (commercial v e h i c l e s )
New
Used

+%

.

1 / Excludes some c r e d i t extended to "business, 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

- 3 Number of Motor V e h i c l e s Financed by S a l e s F i n a n c e Companies
( i n thousands)

Type of v e h i c l e

April
1958

Change from:
Year
Month
ago
ago

T o t a l f i n a n c e d by 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

348
103
221
11
13

+32
+ 9
+24
+ 2
- 3

-57
r-49
- 1
- 3
- 4

T o t a l f i n a n c e d a t wholesale
New ( p a s s e n g e r and commercial)
Used ( p a s s e n g e r and commercial)

350
2til
69

-24
-26
+ 2

-118
rial
+ 23

C r e d i t S a l e s of New Passenger Cars a s a P e r Cent
of T o t a l Number Sold a t R e t a i l l /
Credit Sales
1958 - A p r i l
March
1957 - A p r i l

P e r Cent
5T"
55
63

l / Based on new c a r i n s t a l m e n t c o n t r a c t s a c q u i r e d 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 a u t o mobile d e a l e r s . Data f o r p r i o r months may be o b t a i n e d by w r i t i n g
t o t h e 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
t h e F e d e r a l Reserve System, Washington 25, D. C.