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;?A.
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
G. 20

.

Ma

: >>'"

y 3, 1957

SALES E NANCE COMPANIES
C
March 1957
Sales finance company holdings of r e t a i l passenger car i n s t a l ment paper at the end of March were estimated at $7,190 million. This
represented no change from the previous monxh-end l e v e l , compared with
March increases of S55 m i l l i o n i n 19i>6 and $202 million i n 1955* Total
consumer instalment c r e d i t held by sales finance companies a t the end
of March 1957 amounted to an estimated §9>0it8 m i l l i o n , an increase of
$13 million from the previous month.
Credit extended on passenger automobiles increased ^87 mill i o n from February's volume, r e f l e c t i n g increases i n both new and used
car financing. The March volume represented the financing a t r e t a i l
of approximately lL2 thousand new passenger cars and 219 thousand used
passenger c a r s .
Wholesale automotive paper outstanding increased during March
by $122 m i l l i o n to an estimated #1,567 m i l l i o n , $11 million below the
l e v e l a year ago. All other types of business c r e d i t showed a net i n crease of $28 m i l l i o n .
Outstanding Credit Held by Sales Finance Companies
(In millions of d o l l a r s )

Type of c r e d i t
Consumer instalment c r e d i t
R e t a i l automotive (passenger cars)
Other consumer goods paper
Repair and modernization loans
Personal loans
Business c r e d i t 1 /
R e t a i l automotive (commercial vehicles)
Wholesale automotive
Wholesale other than automotive
Other business c r e d i t

March 30,
1957

Increase or clecrease during;
Year Ended
Mar. Mar*
March 30, 1957
1957 1956
+ 13

+ 66

+ 522

0
8
1
6

+55
0
0
+11

+ 195
+ 231
- 2
+ 98

2,838

+150

+13

+ 161

530
1,567
155
586

- 2
+ 122
+ 12
+ 18

+ U
-17
+ 11
+ 15

* 1
- 11
+ 32
+ 139

9,OU8
7,190
1,255
22
581

+
+

1/ Excludes some c r e d i t extended to business, such as t h a t extended by
factoring subsidiaries*



G.20

- 2 ~
Credit Extended by Sales Finances Companies
(In millions of d o l l a r s )

Type of Credit

March
• 1957

Change from:
Month
Year
ago
ago

Consumer instalment c r e d i t
. R e t a i l automotive (passenger cars)
New
Used
'

821
olO
355
2U6

+ 130
+ 67
+ 5o
+ 37

— i
- 35'
r^2
+ 17

Other consumer goods paper
Hepair and modernization loans
• Personal loans

129
1
81

+ 33
- 2
+ 12

+ 33
- 1
+ 2

credit 1/
R e t a i l automotive (commercial vehicles)
New
Used

1,365
" 1*7
31
16

+ 66
+ 5
+ 3
+ 2

+ 173
0
- 3
+• 3

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

1,136
l,0?ti
58

+ U5
+ 36
+ 9

+153
+ 1U8
+ 5

- 5
+ 21

+•• 8
+ 12

: Business

,

Wholesale other than automotive
Other b u s i n e s s . c r e d i t 1/

52
130

— Excludes some c r e d i t extended to business* such as t h a t extended
by f a c t o r i n g ' s u b s i d i a r i e s .




G. 20

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

Type of vehicle
Total financed by r e t a i l
New passenger
Used passenger
New commercial
Used commercial
Total financed at wholesale
New (passenger and commercial)
Used (passenger and commercial)

March
1957

Change from:
Month
Year
ago
ago

219
lU
17

+51
+ 20
+ 28
+ 1
+ 2

-58
-33
-23
—2

m
1*37
14-7

+ 22
+ 15
+ 7

121

392

Tk2

+ 21
- 1

Credit Sales of Kew Passenger Cars as a Per Cent
of Total Number Sold at R e t a i l 1/
Credit Sales
1957 - March
February
1956 - March

Per Cent
57
58
62

l/Based on new car instalment contracts acquired by banks, sales
finance companies, other f i n a n c i a l i n s t i t u t i o n s , and automobile d e a l e r s .
Data for p r i o r months may be obtained by writing to the Division of
Research and S t a t i s t i c s , Board of Governors of the Federal Reserve System,
Washington 25, D. C.