Full text of G.20 Sales Finance Companies : March 4, 1968
The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
G '^° ; \ : March 4, 1968 . SALES FINANCE COMPANIES ; ^ January 1968 Although consumer instalment credit declined $76 million at sales finance companies during January, this decline "was not; as Sharp as—during the same month a year ago. This January only passenger car paper outstanding dipped significantly, while other consumer goods paper showed more than a seasonal increase and personal loans held steady. , In January 1967, all, four major credit categories dipped, with passenger cars declining $106 million compared to the smaller $86 million drop this year. Total acquisitions of consumer instalment paper at sales finance , companies in January were up $108 million over a year ago, although they declined i $235 million from December 1967. Sales finance companies, purchased more paper in all the major credit categories this January than last, and in comparison with December showed smaller declines in both passenger car paper and personal loans. Outstanding Credit Held by Sales Finance Companies (In millions.of dollars) Type of credit Consumer instalment credit Retail automotive (passenger cars) Other consumer goods Home repair and modernization Personal loans Business credit 1/ Retail automotive (commercial vehicles) Wholesale automotive Wholesale other than automotive Other business credit ' 2/ subsidiaries. Less than 0.5 trillion dollars. January 31, 1968 Increase or decrease during: Year ended Jan. Jan. Jan. 31, 1968 1968 1967 16,775 -76 8,873 5,032 ' ' 98 2,772 -86 15 - 5 y. -106 - 12 1 3 2^627 402 124 1,002 2,673 617 3,335 -24 343 70 13 4 171 - 19 - 24 < -122 - 39 -412 215T ' - .11 . 169 . ' • 1 5 5 - 30 -146 80 " 251 • Credit Extended by Sales Finance Companies (In millions of dollars) Type of credit Consumer instalment credit 1 -141 Other consumer goods " Home, repair and modernization • .Personal loans ' ' Newfpassenger and commercial) Used (passenger and commercial) , Wholesale other than automotive Other business credit .: -13 9 -121 . . - 2 . • -108 . • 188 483 11 10 69 26 10 "l 4 6 222 328 226 4 .336 8 8 - 37 30 U5 1 .940 1 ,893 47 144 539 = - jV Excludes some credit extended to business, such as that extended by factoring subsidiaries. 2/Less than 0.5 million dollars. 52 2/ 28 £5 - • 29 -1 2 ,718 _ Retail automotive (commercial vehicles) "Wholesale automotive paper 28 374 5 241 Business credit 1/ . 108 4 337 184 - New Used .235 521 Retail automotive (passenger cars) "New Used Change from: Year Month ago. 1968 . . G. 20 * 3Number of Motor Vehicles Financed by Sales Finance Companies (In thousands) Type of vehicle Total financed at retail New passenger Used passenger "Jew commercial Used commercial Total financed at wholesale New (passenger and commercial) Used (passenger and commercial) January 1968 Change Month ago 29 253 106 116 17 14 659 619 40 Year ago - 3 4 7 5 9 - V 26 107 1/ 7 99 • 102 3 - 95 12 / The table presenting credit sales of new passenger cars as a per cent of total number sold at retail will no longer appear in this release. Information on number of cars sold on credit and average notes of major lenders appears in release G.26. Copies of this release can be obtained by writing to the Division of Research and Statistics, Board of Governors of the Federal Reserve System, Washington, D.C., 20551. 1/ Less than 0.5 million dollars.
