Full text of G.20 Sales Finance Companies : May 6, 1964

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FEDERAL

RESERVE

release
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' 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
!

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

8 , 2 6 5
3 , 6 0 3

+

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

+

1 0

+

7

6 , 2 7 3

-Mil

-1-120

1 2

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
|

j

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 , 7 8 2 .

1 5 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.