Full text of G.20 Sales Finance Companies : March 7, 1963

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March 7, 1963.
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SALES FINANCE COMPANIES
JANUARY 1963

Outstanding consumer instalment credit at sales finance
companies totaled $12,704 million at the end of January, $510
million more than a month earlier. Most of the expansion resulted
from substantial acquisitions from other lenders of paper on consumer
goods other than automobiles. Sales finance companies added $480
million to their holdings of this type of paper. Automobile paper
increased $22 million and personal loans rose $11 million.
Extensions of consumer instalment credit by these companies,
at $993 million, were $196 million lower than in December. Extensions
on all types of consumer credit except that used for the purchase of
used automobiles declined from the December level. During January
sales finance companies acquired retail paper on 125 thousand new and
193 thousand used passenger cars.
January.

Wholesale automotive credit outstanding rose $119 million in
At month-end, total business credit amounted to $5,323 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 \ J
Retail automotive (commercial vehicles)
Wholesale automotive
Wholesale other than automotive
Other business credit

Jan. 31,
1963

Increase or decrease during:
Year ended
J an.
Jan.
Jan.
31, 1963
1962
.
*1963

12,704

+510

+195

+1,236

7,471
3,603
167
1,463

+ 22
+480
- 3
+ 11

- 57 ,
+245
+ 1
+ 6

+
+
+
+

717
258
5
256

5,323

+115

+140

+

532

646
1,639
336
2,702

+ 4
+119
- 5
- 3

- 4
+152
- 7
- 1

+
+
+
+

121
121
35
255

* For revised December 1962 figures, see page 4.
1/ Excludes some credit extended to business, such as that extended by
factoring subsidiaries.




G. 20

-

2

-

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

Type of credit
Consumer instalment credit
Retail automotive (passenger car)
New
Used
Other consumer goods paper
Repair and modernization loans
Personal loans
Business credit 1/
Retail automotive (commercial vehicles)
New
Used
Wholesale automobile paper
New (passenger and commercial)
Used (passenger and commercial)
Wholesale other than automotive
Other business credit 1/

Jan.
1963

Change from:
Month
Year
ago
*ago

993

-196

+109

575

+ 12

340
235

- 10
+ 22

> 91
+ 60
+ 31

255
7
156

-141
- 1
- 66

8
0
+ 26

1,825

- 10

+221

58
44
14

+
+
+

5
4
1

+ 14
+ 11
+ 3

1,331
1,262
69

+
+

2
1
3

+125
+129
- 4

- 5
- 12

+ 14
+ 68

102
334

* For revised December 1962 figures, see page 4.
1/ Excludes some credit extended to business, such as that
extended by factoring subsidiaries.




-

- 3 -

G. 20

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

Type of vehicle
Total financed at retail
New passenger
Used passenger
New commercial
Used commercial
Total financed at wholesale
New (passenger and commercial)
Used (passenger and commercial)

January
1963

Change from:
Year
Month
ago
* ago

341

+9

+30

125
193
14
9

-3
+8
+2
+2

+20
+ 9
+ 2
- 1

529

+1

+18

473
56

+1
0

+30
-12

Credit Sales of New Passenger Cars as a Per Cent
of Total Number Sold at Retail 1/
Credit sales
1963 - January
1962 - December
January

Per cent

^
r 56

* For revised December 1962 figures, see page 4.
r - revised.
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.




G. 20

- 4 Revised Estimates for Sales Finance Companies
DECEMBER 1962
Type of credit

Consumer instalment credit

Credit
Vehicles
Outstanding,
financed
end of month extended
(in millions of dollars) (in thousands)
12,194

Retail automotive (passenger car)
New
Used

7,449

Other consumer goods paper
Repair and modernization loans
Personal loans

3,123
170
1,452

Business credit 1/
Retail automotive (commercial vehicles)
New
Used

XXX
XXX

5,208
642
XXX
XXX

Wholesale automobile paper
New (passenger and commercial)
Used (passenger and commercial)

1,520

Wholesale other than automotive
Other business credit 1/

341
2,705

XXX
XXX

1,189
563
350
213

XXX

313
128
185

396 '
8
222
1,835
53
40
13

XXX

1,329
1,263
66

528
472
56

19
12
7

107
346

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