View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

U l l K A K V

J

BOARD OF GOVERNORS OF THEJ?|DEEAL RESERVE SYSTEM
G. 20

'

May 4

i960

SALES FINANCE COMPANIES
March i960
Retail passenger car instalment paper held " y sales
b
finance companies increased $65 million during March to $7,4-07
million at the end of the month. The increase compares with an
expansion of $35 million a year ago and a decline of $157 million
in 1958. Total outstanding consumer instalment credit at sales
finance companies increased $81 million to $10,357 million, $1,577
million above March a year ago.
Credit extended on new passenger cars increased $58 million from February and credit extended for purchase of used cars
increased $25 million. New passenger cars financed by sales finance companies amounted to 157 thousand and used passenger cars
236 thousand.
Wholesale automotive paper outstanding increased $209
million during March as 633 thousand cars were financed during
the month. All other types of business credit outstanding increased slightly.
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 if
Retail automotive (commercial vehicles)
Wholesale automotive
Wholesale other than automotive
Other business credit

Increase or decrease during:
Year ended
March 31, Mar. Mar.
I960
I960 1959 March 31. I960
10;357

+ 81 + 56

±141Z

7,407
1,988
39
923

+ 65 + 35
+ 6 + 13
+ 2 + 2
+ 8 + 6

+
+
+
+

978
427
18
154

3,919

+256

+174

+

829

594
2,076
165
1,084

+ 15
+209
+ 11
+ 21

+ 13
+139
+ 9
+ 13

+
+
+
+

122
384
42
281

l/ 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 cars)
New
Used
Other consumer goods.paper
Repair and modernization loans
Personal loans
Business credit l/
Retail automotive (commercial vehicles)
New
• Used
- •
• -••
Wholesale automotive paper
New (passenger and commercial)
. Used (passenger and commercial)
Wholesale other than automotive
Other business credit 1/

Change from:
Year
Month
ago
ago

March
1950

268

+107
+ 83
+ 58
+ 25

+ 84
+ 58
+ 56
+ 2

172
3
120

+ 14
0
+ 10

+ 11
0
+ 15

1,687
63
47
• • 16

+ 24
+ 12

+223
.• 9
«
+ 6
+ 3

1,419
1,322
97

+ 11
+* 1
+ 10

+186
. +185
+ 1

+ 5
- 4

+ 8
+ 20

961
672 -

54
151"

+
+

v

9
3•

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




G.20

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

" March
I960

Change from:
Year
Month
ago
ago

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

i£5
157
236
17
15

.+55
+24
+26
+ 3
+ 2

+22
+25
- 1
+ 3
+ 2

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

633
545
68

+22
+11
+11

+87
+89
- 2

Credit Sales of New Passenger Cars as a Per Cent
of Total Number Sold at Retail l/
Credit Sales
i960 - March
February
1959 - March

Per Cent
58
58
57

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.