Full text of G.20 Sales Finance Companies : May 6, 1964
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i S B # ' - FEDERAL RESERVE release / ^ r m s s a s; - J ? ' T .T f 11 • May 6, 1964 SALES FINANCE COMPANIES MARCH 1964 Consumer i n s t a l m e n t c r e d i t a t s a l e s f i n a n c e companies i n c r e a s e d $14 m i l l i o n during March, to a t o t a l of $13.8 b i l l i o n a t t h e end of t h e month. I n c r e a s e s of $38 m i l l i o n and $10 m i l l i o n i n passenger car paper o u t s t a n d i n g and p e r s o n a l loans r e s p e c t i v e l y were more than s e a s o n a l w h i l e a d e c r e a s e of $32 m i l l i o n i n o t h e r consumer goods paper was l e s s than t h e usual seasonal d e c l i n e f o r t h i s type of credit. T o t a l e x t e n s i o n s of consumer i n s t a l m e n t c r e d i t f o r March, a t $1,166 m i l l i o n , r o s e $186 m i l l i o n above t h e February volume. All types of paper c o n t r i b u t e d to t h i s expansion. P a r a l l e l i n g t h e s t r e n g t h shown i n March s a l e s of f u r n i t u r e and household a p p l i a n c e s , c r e d i t e x t e n s i o n s f o r t h e purchase of nonautomotive goods were up $65 m i l l i o n f o r t h e month, a more than s e a s o n a l i n c r e a s e . The February-March r i s e i n passenger car c r e d i t volume, l i k e t h a t i n s a l e s , was mainly s e a s o n a l in character. Outstanding C r e d i t Held by Sales Finance Companies (In m i l l i o n s of d o l l a r s ) Mar. Type of c r e d i t 1 9 6 4 Consumer i n s t a l m e n t c r e d i t I ! 8 , 2 6 5 3 , 6 0 3 I n c r e a s e or d e c r e a s e during: Year ended Mar. Mar. Mar. 3 1 , 1 9 6 4 1 9 6 3 1 9 6 4 + 1 3 , 8 0 2 R e t a i l automotive (passenger c a r s ) Other consumer goods paper Repair and modernization loans Personal loans j 1 4 - 9 6 + 1 , 3 4 2 + • 3 8 + 3 7 + 7 5 1 - 3 2 - 1 3 9 + 2 9 6 + 3 0 7 + 6 5 0 - 2 - + 1 0 + 7 6 , 2 7 3 -Mil 1 5 2 -1-120 1 6 + 1 1 + 1 1 5 - ' - 1 0 4 + 7 0 + 3 8 8 4 5 8 + 1 3 + 2 5 + 6 5 2 , 7 9 0 - 2 2 + 1 4 + 8 2 7 7 9 | 1 2 1 1 , 7 8 2 . Business c r e d i t 1/ R e t a i l automotive (commercial v e h i c l e s ) Wholesale automotive Wholesale o t h e r than automotive Other b u s i n e s s c r e d i t '! 3 1 , 2 , 2 4 6 + 1/ Excludes some c r e d i t extended to b u s i n e s s , such as t h a t ex tended by factoring subsidiaries. G. 20 -2- C r e d i t Extended by S a l e s Finance Companies ( I n m i l l i o n s of d o l l a r s ) Change from: Type of c r e d i t Consumer i n s t a l m e n t c r e d i t R e t a i l automotive (pa ssenge r c a r s ) Ilex? Used Other consumer goods paper Repair and m o d e r n i z a t i o n loans Personal loans Business c r e d i t 1/ R e t a i l automotive (commercial v e h i c l e s ) New Used Wholesale automotive paper Hew ( p a s s e n g e r and commercial) Used ( p a s s e n g e r and commercial) Wholesale o t h e r than automotive Other b u s i n e s s c r e d i t _1/ March 1954 Month ago Year ago 1,156 +186 +209 657 -MOO + 56 406 251 + 70 30 41 + 15 303 7 199 -!- 65 + 1 + 20 120 0 + 33 2,150 ±193 +358 80 12 + 15 62 18 12 0 + 13 *r 2 1,540 -M50 -:-260 1,471 69 -i-145 -!• 5 +257 3 145 385 12 -!• 19 V 26 + 57 1/ Excludes some c r e d i t extended t o b u s i n e s s , 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 . -3- G. 20 Number of Motor Vehicles Financed by Sales Finance Companies ( I n thousands) Change from: Type of v e h i c l e Total f i n a n c e d a t r e t a i l New p a s s e n g e r Used p a s s e n g e r _I(2xj commercial Used commercial Total financed a t wholesale New (passenger and commercial) Used (passenger and commercial) March 1954 Month ago Year ago 367 +48 +13 147 197 16 7 +26 +24 + 1 - 3 +12 + 1 -!- 2 - 2 607 +51 +90 550 57 +47 + 4 +83 + 2 C r e d i t Sales of ITew Passenger Cars as a Per Cent of T o t a l lluraber Sold a t R e t a i l 1/ C r e d i t Sales 1964 - March February January 1963 - March Per Cent 60 56 r 57 56 v. r e v i s e d 1/ Based on new car i n s t a l m e n t c o n t r a c t s acquired by banks, s a l e s f i n a n c e companies, ojther; f i n a n c i a l i n s t i t u t i o n s , anti automobile d e a l e r s . Data f o r p r i o r months may be obtainad by w r i t i n g t o t h e D i v i s i o n of Research and S t a t i s t i c s , Board of Governor^ or the Federal Reserve System, Washington, D. C. 20551.
