Full text of G.20 Sales Finance Companies : March 7, 1955

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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
G.20

March 7, 1955
SAIES FINANCE COMPANIES
JANUARY 1955
Passenger car instalment paper held by sales finance
companies increased further during January. Balances outstanding
at the end of the month, estimated at 5>603 million dollars, were
liO million above the preceding month and 375 million above a year
ago. Personal loans outstanding also increased, while other types
of consumer credit outstanding decreased. Total consumer instalment credit held by sales finance companies amounted to an estimated 6,U62 million dollars at the end of the month.
Extensions of credit on passenger automobiles during
the month were 97 million dollars below December's unusually
large volume, reflecting decreased financing of both new and used
cars. The January total of 536 million dollars was, however, 157
million above the same month of last year. Sales finance companies
financed approximately 159 thousand new cars and 209 thousand used
cars during January.
Wholesale automotive paper outstanding increased 15U
million dollars during the month as dealers continued to rebuild
their stocks. Month-end balances amounted to an estimated 871
million dollars. Other wholesale paper also increased, while the
other types of business credit declined.
. /\ £

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

Jan. 31,
1955

Increase or decrease during;
Year ended
Jan.
Jan.
1951 Jan. 31. 1955
1955

6,1+62
5,603
35o
79
U30

Business credit 1/
1,595
Retail automotive (commercial vehicles)
• 3li5
Wholesale automotive
.871
Wholesale other than automotive
39
Other business credit
3lt0
&£29
1/ Excludes some credit extended to business, such as credit arising from
factoring operations.
88051.




mm'

G.20

" - 2 Credit Extended by Sales Finance Companies
(Iri millions of dollars)
Type of credit

Consumer instalment credit
Retail automotive (passenger cars)
New
Used
Other consumer goods paper
Repair and modernization loans
Personal loans
Business credit 1/
Retail automotive paper (commercial vehciles)
New
Used
Wholesale automotive paper
New (passenger and commercial)
Used (passenger and commercial)
Wholesale other than automotive
Other business credit 1/

Jan.
1955

Change from:
Year
Month
ago
a^o

623

-13k

+171

536
329
207

- 97
- 63
- 3U

+157
+120
+ 37

29
3
55

- 16
- 2
- 19

+
+

1,08U

- 32

+302

-

+
+
-

26
18
8
96U
918
U6
18
76

7
U
3

8
3
9

2
3
1

- 19
- 18
— X

+308
+301
+ 7

+
-

+ 6
- m

3
9

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

Jan.
1955

Changes from:
Year
Month
ago
ago

Total financed at retail
New passenger
Used passenger
New commercial
Used commercial

392
159
209
12
12

- 77
- 31
- Uo
- 3
- 3

+ 7k
+ U7
+ 26
+ 1
0

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

138
399
39

- 9
" 10
+ 1

+138
+1U5
- 7

1/ Excludes some credit extended to business, such as credit arising
from factoring operations.