View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

FEDERAL

OfCOV--.^

statistical

RESERVE

r e l e a s e

June 6, 1966.

SALES/FINANCE COLE AMIES
'

—

:

•

/'

Consumer credit outstanding at sales finance companies increased
$35 million in April. All types of credit contributed to this increase with
the exception of h o m e repair and modernization loans.
Total consumer paper acquired during April, dipped $93 million below
The bulk of this decline was in retail automotive paper.
the March figure.
Business credit outstanding rose $115 million in April. At the same
time, business extensions fell $331 million.
Although all types of credit
shared in this decline, wholesale automotive paper registered the largest drop.
Outstanding Credit Held by Sales Finance Companies
(In millions of dollars)

Type of credit

Consumer instalment credit
Retail automotive (passenger cars)
Other consumer goods
H o m e repair and modernization
Personal loans
Business credit 1/
Retail automotive
'
(commercial vehicles)
Wholesale automotive
Wholesale other than automotive
Other business credit

subsidiaries.




April 30,
1966

Increase or decrease during:
Year Ended
April
April
April 30,1966
1966
1965

16,191
9,261
4,448
114
2,368

47
26
- 2
14

7.476

M I

160

85

-

101
31
1
29

1,200
'

437
. 520
22
265

434

716

969

22

19

94

2,907
602
2,998

49
13
31

352
23
40

353
95
174

•

'

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

April
1966

Change from:
Month
Year
ago
ago

1,225

- 93

-59
- - 91

•

-

Type of credit

Consumer instalment credit
Retail automotive (passenger cars)

Business credit '1/
Retail automotive

(commercial vehicles)

Used
Wholesale automotive paper

- 66
- 48.
- 18

323
5
240

- 23
1
3

2,370

Other consumer goods
Home repair and modernization
Personal loans

657
425
232

• New
Used

"331

- 45
- 46

-

,

36
1
3

- 70

101

-

3

io

76
25

-

3
0

5
5

Wholesale other than automotive
Other business credit 1/

1,625

-278

-130

1,565
60

-111
6
-

-117
- 13

• 153
491

-23

|

-

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

j

9

41
2

7

1i 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)

Type of vehicle

April
1966

Total financed at retail

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

-64

336

New passenger
Used passenger
New commercial
Used commercial
Total financed at wholesale

Change from:
Year
Month ;
" ago
ago

149
163
18
6
'

- 17
- 13
0
4

-18
-45
0
- 1

623

-101

:55_

575 "
48

- 97
- 4

-47
V- 8

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

Credit Sales

Per Cent

1966 - April

67

1966 - March

65

1965 - April

;

64

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, D. C.
20551.




"