Full text of G.20 Sales Finance Companies : June 4, 1959

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7 / L ,

BOARD OF GOVERNORS OF OSfi lEDEML RESERVE SYSTEM
G.20

June 4, 1959
SALES FINANCE COMPANIES
April 1959

Sales finance company holdings of retail passenger car
instalment paper increased $114 million during April, the largest
increase for any month since 1955• Holdings of other consumer instalment paper increased $27 million during the month, nearly the
same as in April of last year.
Retail passenger automobile contracts acquired during
April amounted to 144 thousand new and 254 thousand used for a
total dollar volume of 658 million. Compared with a year ago
about 74 thousand more passenger car contracts were acquired.
Wholesale automotive paper outstanding increased $103
million during April. This compares with a decline of $111 million during the same month a year ago. All other types of business
credit on balance increased $52 million.
Outstanding Credit Held by Sales Finance Companies
(In millions of dollars)

Type of credit

April 3 0 ,

Increase or decrease during:
Apr. j Apr.
Year Ended

JS52__

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

8,921

+l4l

-

6,543
1,582

776

+114
+ 21
1
+
7

-112
+ 23
+
1
+ 4

3,245

+155

-114

+261

493
1,795
130

+ 21
+103
+
7
+ 24

-

+

20

Business credit l/
Retail automotive (commercial vehicles)
Wholesale automotive
Wholesale other than automotive
Other business credit

LJ25S_

827

84

7

-111
+
+

3
1

-279
-425

+ 67
0
+ 79

+ 23
+125

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




L I B R A R Y "
K£srnv'.',-A

2

+111

G.20

-

2

-

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

April

Type of credit
.

Consumer instalment credit
Retail automotive (passenger cars)
NewUsed
Other consumer goods paper
Repair and modernization loans
Personal loans
Business credit l/
Retail automotive (commercial vehicles)
New
Used
Wholesale automotive paper
New (passenger and commercial)
Used (passenger and commercial)
Wholesale other than automotive
Other business credit l/

1959..

Change from:
Year
Month

ago .._ a g o _

+32
+12

+174
+152
+115
+ 47

171
2
102

+10

+

1,501

+37

59

+ 5

933

MB
3tio

278

+50

m

- 1
- 3

46
13

+ 5

1,243

+10

0

1
0
+ 11

+554
+ 20
T 20
0

97

+ 1

+483
+437
+ 26

46
153

0
+22

+ 39

T70+6

+ 9

+ 12

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




G.20

- 3 -

Number of Motor Vehicles Financed "by Sales Finance Companies
(In thousands)

Type of vehicle

April
. 1959

Change from:
Month
| Year
ago
1
ago

Total financed by retail
New passenger
Used passenger
New commercial
Used commercial

k2Q
m

+32
+12
+17
+ 3
0

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

557
m
93

+11

254
17
13

+ ti

+ 3

+ 80

T%1

+ 33
+ 6
0
+207
+183

+ 2k

Credit Sales of New Passenger Cars as a Per Cent
of Total Number Sold at Retail l/
Credit Sales
1959 - April
March
1958 - April

Per Cent
57
60

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 25, D. C.