Full text of G.20 Sales Finance Companies : May 31, 1943

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DEPARTMENT OF COMMERCE

Immediate
Release
.!Lay 31, 1943

BUREAU OF THE CENSUS

:

"·

'~ :'

'cur~;J+t.

Statistical_
Service ·

SALES FINANCE CCio!PANIES

April 1943
The number of new passenger cars financed in April 1943 by sales finance companies gained
36 percent over that for March of this year,according to an announcement released today by J, C. Capt,
Director of the Census. The dollar volume of paper acquired in this type or financing gained 31 percent.
There was an increase of 7 percent in the number of used passenger cars financed and 11 percen~ in the
dollar volume of paper acquired, Compared with the preceding month, the number of new conmerc~al cars
financed in April was 40 percent more, but the dollar volume of paper acquired was only 19 percent
higher The number of used commercial cars financed increased 47 percent, while the dollar volume of
paper ~cquired increased 44 percent.
Data contained in tb.is report are based on a sample survey conducted by the Bureau of the Census.
As of April '30, 1943 the volume of retail automotive outstandings held by sales finance co~
panies was ll percent less than as of March 31, 1943. From 105 last April, the index is now at 20.
OOTSTANDING BALANCES
RETAIL AUTCI(OTIVE FINANCING
DECliJlBER 31, 1939 = 100
INDEX
200r-------------.-----------~,------------,

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Of the wholesale automotive paper acquired by sales finance companies during April 1943, the
volume for new passenger and new commercial cars rose 12 percent over that reported for ~arch this
year, while the volume for used passenger and used commercial cars gained only slightly (2%). Th~ volume of outstanding balances for this type of paper dropped 12 percent from March 31, 1943 to Apr~l 30,
1943.
In retail diversified financing, for April 1943 compared with the preceding month, a substantial increase of 51 percent was registered for refrigerators and household appliances, and 18 percent
for residential building repair and modernization. The financing of furniture, radios, and musical
instruments fell off 21 percent, and industrial, commercial, and farm equipment, 36 percent. In wholesale diversified financing, the volume of paper acquired gained 74 percent on a month-to-month comparison.
Diversified outstanding balances held by sales finance companies were further reduced in
volume during April.
The volume decreased 10 percent for the retail financing of other consumers'
goods,5 percent for industrial, commercial, and farm equipmen~and 6 percent for wholesale diversified
financing (other than automotive).
The ratios of the paper acquired during April 1943 to the outstanding balances as of April 30,
1943 were 13 percent for retail automotive, 8 percent for wholesale automotive, 22 percent for wholesale--other than automotiv~3 percent for retail--other consumers' goods,and 5 percent for industrial
commercial, and farm equipment.
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These data on the current trends of sales financing during April 1943 were based on reports
from 217 sales finance companies, and the dollar volumes should not be assumed to represent the total
amount of financing by all sales finance companies in the United States.
The data are published as
reported, without adjustment for seasonal or price fluctuations.
The figures presented in tables 4~
5, and 6 of this release are not comparable to those published for previous months, since llalthl.,yreports
All indexes for April were
have not been received each month from identical sales finance companies.
obtained by calculating the percent changes from March to April, as shown by data on reports for both
months from the same sales finance companies, and by linking these percentages to tl)e i!ldexes previously
deriyed for March 1943.
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Table 1.-Ailtaaotin and J)iversified Financi.a&
Index ot '!'reAds in 011tstudiq Balances b.r Class ot Paper
December 31, 1939 • 100

all

Wholesale
automotive

Wholesale
other
than
automotive

Retail
other
conswners 1
goods

sales
tinanci.a&

Industrial,
commercial,
and !arm
eqll1J1118nt

1939 - Dec. 3]. •••••••

100

100

100

100

100

100

1940- Dec. 31 •••••••

136

132

169

140

129

131

1941 - Dec. 31 .••••••

'152

149

175

250

l4B

147

1942- Apr. 30 •..•.••
- Ka.r 31 • ... :•.••

125
115
105
95

222

191
153
130
110
97
85
74.
52
40

131
126
118
110
103
96
89
8.3
76

156
153
l4B
140
134.

75
67
iiJ
53

105
95
86
77
67
59
51
4.4.
37

4.8

.31

.34.

70

- Jmne )0 •••••.•
- J~ 31 ....••.

- Aas. 31 •••••••
- Sept.30 •••••••

84

-Oct. )1 •••.•••
- lov. 30-·~····

[

-Dec. 31 •••••••

(

L

Retail
automotin

Total
Date

•

!I

194.3- Jan • .31 •••••••
- Feb. 28 •••••••
- Mar. 31 .••...•
- Apr. 3(). • • • • • •

!I

42
.37
.3.3

\

27
22

20

208
193
175
151
137

124.

118

112

107
100
91
81

30

26
24.

64.
58

52

-

a.

124.

110

64.

61
iiJ
55
52
49

Indexes as ot De.cember 31 tor ttle ;years ot 19.39, 1940, and 1941 are based on figures reported b;y
sales finance companies on a supplementar;y report form which accompanied the regular monthl;y report tom tor Januari 1942. Succeeding indexes are derived b.r calclllati.a& the percent changes ot
the o11tstand1ng 'balances reported b;y sales finance companies tor each month from those reported
b;y the Sllllle companies ·tor the preceding month, and b;y linking these percenta&es to the indexes
tor the preceding month.

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Table 2.-Relative lmJl9rtance ot Loans made b;y Sales Finance Companies
Volwne ot Paper Acquired during The Konth and_ Outstanc:linB Balances at the End qt the Konth

. Class of paper

Paper acquired
d11ri.a& month
Percent
ot
Amount
total.

Total, all classes ot paper !/••••••••••

$58,916,148

100

Total loan••••••••••••••••••••••••••••

J:Z 1 8J8 1 J~Z

_j&,
5

Small (personal) loans ••••••••••••••
B111inesa loans . •••••••.•.••••.••••••.

.3,160,24.0
34.,678,157

!f ....... ••••·•.

21,077,751

Total, Sales Financing&
Bureau ot the CeASilB

!I

Outstanding balances,
end or month
Perceot
or
Amount
t.ot.al

$.309,775,.3.38
~.QQCh~JQ

59

25,885,169
4.0,121,661

.36

24..3,768,508

100

A

8
1.3
79

Current Statistical Service

lrlclwied 1n this classificat1o,11 ar.~. o~ those firma which, in acldit,ion to their sales tinancinl
operation,s, repo~ed loan a.ctivit.ie•··

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Table 3.-Automotive and »ivereitieci Fi.llanc1ng
Inciex of 'l'rencla, 1942-1943 !/ .
JaniW'1 1942· = 100

.
It•

1942
;I

fi :1...

41111

!

~

.

:f
41111

1943

i., .
~
C)

fll

0

~

.

C)

.!!

~

.c
r:!

~
::E

:;::1

...0.

<

RETAIL AIJTCBWTIVE

Total number of care financed •••••••••••••••••••••••.
Total volume of paper acqiU.reci ••••••••••••••••••••••..

64 59 61 61 54 42 32 27 20 18 21 33
52 41 32 25 19 17 21 35

36
40

Hew passenger cara ••••••••••••••• Hamber •••••••••••
Paper acquired •••

52 53 50 40 23 14 10 9 11 24
40
42 60 55 57 54 45 26 16 11 11 13 30

33
39

New commercial cara ••••••••••••• ~Namber •••••••••••
Paper acq~ireci,,,,

31 23 25 22 19 10
34 25 29 25 23 11

5 10
6 13

14
15

21 19 22 35

37
41

45 46 42 34 28 21 16 12 13 15 15
47 51 47 39 34 28 22 17 20 24 24

22

57 55 57

sa

sa

8
9

8

3
4

Used paesenser cara ............... KQIIber ••••••••••• 68 60 64 63 55 43 34
Paper acq~ireci•••. 62 55 60 60 54 42 34
.

28
28

22

Used oammercial cara ••••••••••••• Hamber •••••••••••

Paj,er acqllireci •••

ss

sa

6

4
5

19 23 37

35

WHOLESALE AUTOMOTIVE
(Paper acq~reci)
Total volume of paper

acq~ireci ••••••••••••••••••••••.

19 16 12 12 10 10

9

6

5

5

6

9

9

6

5

4

3

3

5

6

27 29 14 13 14 20 31

32

Total diversified financins ••••.••••••••••••••••••••• 107 86 62 47 42 40 46 39 45 23 20 23

24

le

New cars (passenger and commercial) •••••••••••••••

17 14 10

8

7

Used care (passenger and cOJIIIIlel'cial) ••••.• •••••••••

40 37 29 29

28

7

DIVERSIFIED FINANCING
(Paper acq~ired)

Total retail, other

consume~'

goods •••••••••••••• 123 108 80 59 54 52 60 52 60 30 26 28

90 6'5 '52 1..7 1..'3 1..2 1..7 LD '5'3 '39 '3L. '3'5
110 97 73 66 59 59 64 55 71 62 48
Radios, pianos, other musical inetrwuents ••••• 72 37 33 30 31 28 33 29 40 16 22 35

27
27

Refrigeratore&other ho~eehold ap~iancea,Total. 1121.. 95 57 32 26 23 24 17 13 _9 8 12.
Refrigerators (gas and electric •••••••••••••• 132 lOS 63 34 22 19 23 15 11 7 6 12
Other ho~eehold appliances ••••••• ~ •••••••••••• 116 80 46 3l 37 36 28 23 21 14 13

18

repair and modernization ••• 127 128 98 84 77 76 82 64 ~ 43 35 40
retail •••••••••••.•••••••••••••••• 131 131 142 l24 117 ~o.35 97 87 88 63 51 65

48

radios, pianos, etc., Total ••••••••••

F~rnit~re,

Furniture •••••••••••••••••••••••••••••••••••••

Residential

~ilciing

Kiacellaneo~l

In~strial,

B~~

'

18

67

3

s

commercial, and farm equpment •••••••••• 162 85 49 46 31 27 40 30 59 42 27 64

41

Total wholesale, except

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30

of the

Cens~s

a~tomotive ••••••••••••••••••

52 24 18 12 11

9 10

6

C~rent

3

2

3

Statistical Service

Indexes are derind by calcuating the percent chqes in the number or care financed or the TOlwae or
paper acqwed by sales finance companies d~ing each month from the number of' care financed or tbe volume
of paper acqureci by the same companies d~in& the preceding month, and by J.inld.ng these perc8lltages to
the ·indexes for the precedins month. The indexes for "Total retail a~tomotin" 1 "Total wholesale a:~tomotive" 1 and "Total retail, other consumers' goode" are baaed on all fig~ee reported for these items regardless or whether or not breakdowns coud be a~pplied.

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Table 4.-Ailt.omotiTe aAC1 Divereit~d Financin&
Volwae ot Paper Acquired daring April 191.3 aacl Baluce.a Otltstancling
April 30, 1943
...
VolllDUr ~t. papel' aafiuired
. durirur A d.l 1943
By companieli
"'By all
re~rting
o'Ompar\iee
outstandi~
balances

Clue ot paper

Total retail au.tomotiTe ••••••••••••••••••••••
Total wbo1eaale aa.tomotive . •••••••• ·• •••••••••
Total wholesale - other than automotive ••••••
Total retail - other cone1111111re 1 goode ••• , ••••
Industrial, COIIIIILil'Cial, and tam equipii8At •••

$20,754,359
10,41+9~951

267,428
3~412.158
415~428

$20,009,673
10,260,139 .
223,446
3,223,076
402,863

Outet~di.DB

balances
April 30,
1943 II
$159.914,767
129,356,642
. 1,015,063
1~223,524
7~445,747

Ratio paper
acqllired to
outetanclinc
balances "!iJ

••

13
8
22
3
5

Total sales financiDB~····•••••••••
.35,299,324
.398,955,743
.34,ll9,197
9
!I Data are based em figures rraa sales finance caapaniee able to report both their paper acqllired &I1Ci their
outetandiDB balances.
'B/ Ratios obtained by divicling paper acqllired (colwan 2) by outetandi.DB balances (colwan 3).

Table 5.--Automotive Financ1118 .
Nlllllber or Care Financed and Volllllll ot Paper Acquired durill8 April 1943

Total retall automotive ••••••••••••••••••••••

43,799

New passenger cars • •.•..•••..••••••..•••.••
New COJDD18l"Cial care • .•.••••••...•••••...•••

Used passenger c8ra ••••••••••••••••••••••••
Used commercial cars •••••••••••••••••••••••

4,153
314
37,875
1,457

Total wholesale automotive ....................

ll,703

New cars (fassenger and commercial) ••••••••
Used cars passenger and coDUIIIrcial) •••••••

4,730
6,973

II

Paper acquired

Number or care
.li'ercant
Nlllllber
or
total

Cla11 ot paper

-100
10

.li'ercent

Dollar
volume
$2o,422,912

ot

total

II

3,524,702
309,505
15,791,802
796,903

1
86
3

,19,281,537 tl

-100
40
60

5,091,145
4,190,392

-

100
17
2
77
4

-100

•

55

45
Data are based on reports trom sales finance compsnies provicling a breakdown or their retail end wholesale
automotive financing.
These amounts are leas than those reported in table 4 due to the exQJ.usion of some
data for which breakdowns were not available.

Table 6.-Diversi!ied Financing
Volwae or Paper Acquired daring April 1943
Percent
Class of paper

Dollar vol-ume

ot
total

Retail - other con1111m1rs 1 goods:
Furniture, radios, pianos, and other musical instruments ••
Refrigerators, and other household appliances ••• ; •••••••••
Residential bu1lding repair and modernization •••••••••••••
li.is cellaneoua retail • ••.•... •:~ •..•••.• ~ •••......••.•.. , •..

$164,236
165,092
374,681
1,102,149

Total retail - other consumers• goods .•.••••.••..•.•..•..••• •
Total wholesale- other than automotive •••••••••••••••••••••
Ind1111trial, co11111ercial 1 end farm eqllipment •••••••••.•••••••••

•1,806,158
267,428
415,428

7
7
15
44

11

73
10
17

Total diversified financing •••••••••••••••••••••••
Bureau of the Census

II

Current Statistical Service

are based on reports rraa sales finance companies providing a breakdown or their retail finsncill8 ot
other consumers' good.s.
This amount i_s lees than that reported. in table 4 due to the exclusion or eaae
data for which breakdowns were not available.
· ·
·

Da~a

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