Full text of G.20 Sales Finance Companies : June 4, 1957

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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
Or.20

June 4, 1957
SALES FINANCE COMPANIES
April 1957

Sales finance company holdings of retail passenger car
instalment paper increased "by $22 million to an. estimated $7,212
million at the end of April. This compares with April increases
of $42 million in 1956 and $236 million in 1955 • Total consumer
instalment credit held by sales finance companies at the end of
April 1957 amounted to an estimated $9,104 million, an increase
of $56 million from the previous month.
Credit extended on passenger automobiles increased $22
million from the volume in March, reflecting an increase in new
car volume and a decline in used car volume. In April approximately 152 thousand new passenger and 222 thousand used passenger
cars were financed at retail.
Wholesale automotive paper outstanding increased by $50
million during April to an estimated $1,617 million, $57 million
above the year ago level. All other types of business credit increased during the month by $9 million.
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 modernization loans
Personal loans
Business credit l/
Retail automotive (commercial vehicles)
Wholesale automotive
Wholesale other than automotive
Other business credit

Increase or decrease during:
April 30, April April ~ Year Ended
Axiril 30, 1957
1956
1957
1957
9,104

+56

+49

+529

7,212
1,279
22
591

+22
+24
0
+10

+42
0
0
+ 7

+175
+255
- 2
+101

2,897

+59

+21

+199

531
1,617
159
590

+ 1
+50
+ 4
+ 4

+14
-18
+ 6
+19

- 12
+ 57
+ 30
+124

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




a.20

- 2

-

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

• Type of Credit

April
1957

Change from:
Year
Month
ago
ago

3#
243

+34
+22
+25
- 3

+ 86
+ 23
- 3
+ 26

135
1
87

+ 6
0
+ 6

+ 46
0
+ 17

1,297
Business credit l/
49
Retail automotive (commercial vehicles)
33
New
16
Used

-68
+ 2
+ 2
0

+157

1,087
1,030
57

-49
ms
- 1

+l6l
+155
+ 6

47
114

- 5
-16

+ 4
- 9

Consumer instalment credit
Retail automotive (passenger cars)
New
Used
Other consumer goods paper
Repair and modernization loans
Personal loans

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

4-

1

+

2
3

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




G.20
Number of Motor Vehicles Financed by Sales Finance Companies
(In thousands)

April
1957

Type of vehicle

405
152
222
14
17

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

i

468
522
46

Change from:
Year
Month
ago
ago

m

-20

+ 3

- 5
- 2
+ 1

-16
-15

+29
+25
+ 1

0
0

-1

Credit Sales of New Passenger Cars as a Per Cent
of Total Number Sold at Betail l/
Credit Sales
1957 - April
March
1956 - April

Per Cent
65 " '
57
67

1/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 25, D. C.