Full text of G.20 Sales Finance Companies : May 2, 1958

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v:

BOARD OF GOVERNORS OF TEE FEDEEAL RESERVE SYSTEM

G.20

May 2, 1958
SALES FINANCE COMPANIES
March 1958

Sales finance company holdings of retail passenger
car instalment paper- decreased $157 million during March to an
estimated: $7,080 million at the end of the month. This compares
with ho change in March 1957 and an increase of $55 million in
March 1956.- Total consumer instalment crejlit at sales finance
companies decreased $121 million to $9,284 million at the month
end.
Retail credit extended on passenger automobiles increased less than seasonally by $27 million, reflecting increases
in both new and used passenger car extensions. In March about $4
thousand new and 197 thousand used passenger cars were financed
at retail.
Wholesale automotive paper outstanding increased $8
million during March to an estimated $1,795 million. This compares
with an increase of $122 million during the same period a year ago.
Outstanding Credit Held by Sales Finance Companies
(in millions of dollars)
Increase or decrease during:
Year Ended
March 31, March March
1958 1957' March 31, 1958
1958

Type of credit
Cdftsumer instalment credit

. ...

.

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

9,284

-121

+ 13

+236

7,080
1,492
19
693

-157
+ 28
- 1
+ 9

0
+ 8
- 1
+ 6

-110
+237
- 3
+112

3,098

+ 9

+252

+260

498
1,795
104
701

+
+
+

- 2
+122
+ 12
+ 18

- 32
+228
- 51
+115

10
8
8
3

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



- 2 -

G-.20

Credit Extended by Sales Finance Companies
(in 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

March
1958
724
m

211
177
1
92

Change from:
Month Year
ago
ago
+82
+27
+ 8
>19
+46

1,006
Business credit l/
.56
Retail automotive (commercial vehicles)
22
• :
' New
14
Used

+ 1
+1

Z_9l '
-ifb >. ' •

"121
- 35

+ 48
0
+ 11
-359
- 11
-

2

-313

Wholesale automotive paper
New (passenger and commercial)
- Used (passenger and.commercial)

823

-49

752

^59

^325

+10

+ 13

Wholesale other than automotive
Other business credit-1/

38
109

+ 5
+ 7

- 14
- 21

71

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




;

G.20

- 3 -

Type of vehicle

March
1958

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

316
~9*
197
9
lb

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

374
307
67

CD

0

1

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

Month
ago
-••32

from:
Year
ago

+24
+ 2
+ 2

- 76
- 48
- 22
- 5
- 1

- 9
-lb
+ 9

-110
-130
+ 20

+n

Credit Sales of New Passenger Cars as a Per Cent
of Total Number Sold at Retail 1/
Credit Sales
1958 - March
February
1957 - March

Per Cent
55
60
56

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.