Full text of G.20 Sales Finance Companies : May 6, 1968

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FEDERAL
statistical

RESERVE

release

,<
May 6 , 1968
' SALES FINANCE COMPANIES
*'

-

(llTrtP0LyOUJ~M

M A R C H 1963

, Consumer instalment.credit outstanding showed little change in
March, but at the month-end wgs $107 million larger than on March 31, 1967.
Both the credit extended to consumers and the amount repaid on
outstanding indebtedness during' March showed more than the customary expansion
at this time cf the year. M o r e than one-half of the $132 million increase in
credit extended was in new passenger car credit, but all other major types
were also in larger volume than in February.. Repayments w e r e particularly
strong in the automotive and personal loan areas.
'
All categories contributed to the
in business credit outstanding.
The amount
.represented a gain of $462 million over the
three-fifths of this expansion was in other

$238 million rise during March
owed on March 31--$8,049 million-corresponding date of 1967. Nearly
business credit.

Outstanding Credit Held by Sales Finance Companies
(In millions of dollars)
i

Type of credit

Consumer instalment credit

"
March 31,
1968

Increase or decrease during
Year ended
Mar.
Mar. 31, 1968
1967

Mar..
1968

16.700

-103

101

8,865
4,947
89
2,799

20
-30
-: 4
8

- 76
- 29
2
4

-234
203
- 16
194

Business credit 1/

8.049

238

-_32

462

Retail automotive (commercial
vehicles)
Wholesale automotive
W h o l e s a l e other than automotive
Other business credit

1,020
2,912
682
3,435

25
-100
13
30

- 20
84
125
273

Retail automotive (passenger cars)
Other consumer goods
Home repair and modernization
Personal loans

;

10
162
32
34

-

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




~ G.20
Credit Extended by. Sales Finance Companies
(In millions of dollars)

Mar.
1968

Type of credit

,

, .
Change from:
Year
Month
ago
ago

Consumer instalment credit
Retail automotive (passenger cars)
New
Used

Wholesale automotive paper
New (passenger and commercial)
Used (passenger and commercial)
•Wholesale other than automotive
Other business credit

29

216.

"69
17

26
3

383
4
268

29
2
15

2,721

297

534

7

6

7

1
'5

418
I

Business credit 1/

New
Used

60

86

634

Other consumer goods
Home repair and modernization
Personal loans

Retail automotive (commercial vehicles)

132

r
.80
28

"

.. -

5

: L.

26

-

1,792

212

378

1,733
59

203
9

381

187
634

16
62

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




;

>
_

3

25
125

'

tl1

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

• . .

Type of vehicle

Total' financed at "retail
New passenger
Us3d passenger
New commercial
• Used commercial
Total financed at wholesale
• New (passenger and commercial)
Used (passenger and commercial)

Change
Month
ago.

1968

Year
ago

30

- 2

22
10
I
- 3

2
- 9
2
3

629

108

110

588
41

103
5

117 - 7

305
,133
136
22
14

.

The table presenting credit sales of new passenger cars as a per
cent of total number sold at retail will no longer appear in this release
Information on number of cars sold on credit and average notes of major
lenders appears in release G. 2.6. Copies of. this release can be obtained
by writing to the Division of Research and Statistics, Board of Governors
of the Federal Reserve System, Washington, D.C.,
20551.