Full text of G.20 Sales Finance Companies : May 9, 1942

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DEPARTMENT OF COMMERCE
BUREAU OF

Release

T~E

CENSUS

llay 9, 1942
5~

ounat
StaUstiaal
Serv'iae

FINANCE CCIIPARIES
Karch 1942

An increase ot 99 percent from FebrWU7 1942 to Karch 1942 ill the number ot nw paaseqer care
financed b7 aalea finance companies waa anoouoced todq b7 J. C". Capt, Director ot the Cena1111. The dollar
TOlWDe ot paper acqllired ill the tihancing ot new paaaenser care illoreaaec:l 108 percent. These saioa are
in eharp contraet to the trend in Febru&rT when both the nWIIber and the dollar vola ot new paaaqer
car tioaocinsa were down 78 percent !rom Janll&r7 1942. For new c01111111roial. care, the nWIIber financed and
the volame ot paper acquired increaeed 62 percent. and 40 percent reapeotivel7. Uaed paeaen,er car financiq increased S percent for the nwaber ot care and ll percent .tor the dollar volume, while uaed commercial car financing decreased 6 percent in nWIIber and 9 percent in dollar vola.~.

Retail automotive outstandiags held b7 aalea finance oc.paniea deoreued 9 percent durin£ Karch
1942, o011pared to ali 8 percent decline dllrinl the previou IDOJI.th. Tbe ·ateaq clcnrmrard t~ ot these
o11tstanding balances since August 1941 ia shown b7 the chart 1Diedi&telT below this ~aeraph.
OUTSTANDING BALANCES

RETAIL AUTOMOTIVE FINANCING
INDEX

DECEMBER31; 1939=100

200~------------~--------------r-------------~

50~-----~~~--------+-------,

·From Febrll&r7 to Karch ot 1942 the volume of paper aoq11ired b7 aalea finance companies tor t.be
wholesale !inaneiRe ot nn care decreuec1 63 percent., wb.ile .the wholesale tinanciol ot llled care reiil. tered ool7 a •lilht loee.
The o11tstandins balance• tor wholesale ~to.otive decreaeec1 •liihtll durinl
Karch after havin, inoreaeed sl.\betantiallT diU'in, Januar7 aml Pebru.r,..
Iocreaeee were senerall7 resietered tor Karch 1942 over Pebruar7 1942 in the vo~ ot paper aoqllirec1 b7 salee tioaooe cOIIIp&IUee tor divereitied tinanciJll (all oCIIIIOdit1.. ot.ber than autouUn). ln
retail tioaocioi the lar1Ht increase wu 70 percent tor retrileratora, tollcnrec1 b7 47 per9ent tor other
holllehold appliances, 39 percent tor fiU'oitllre, 31 percent tor radios, pianos, anc1 other Jlllllical inetrllmente, 30 percent tor reaid.ential blllldini repair and. 1110dero1sat1on1 and. 24 percent tor 1nc1uatr1al, commercial, and !&I'lL equipiUilt.
The vol,ume ot wholesale paper acquired tor d.1verait1ed. tioaociJli waa down
36 percent contrasted. to an illcreue ot S4 percent tor the previoul 110nth.
D1nrait1ed. o11t1tandins balances helc1 b7 aalea finance ccapaniea recorcied. IIIOd.erate to n•1liiible
rec11lct1ons diU'inl Karch. R•tail o11t1tand.ini balances tor other oonaUMra 1 1ooc11 were red.ucec1 3 percent
tor the third. auccealive 110nth1 while the balances tor 1nc1uatr1al, comercial, and !&I'lL eq,lli.-.nt were
ll&intainec1 at approximateJ.T the same level aa in Februar7 1942 after haviJli in.orea.aed mod.e~telT duriJli
each ot the laet two month a •
'l'he ratioe ot the paper acquired. -durin, Karch 1942. to the outetand.111i b&l.ancH aa ot llarob. 31,
1942 are 4 tor retail a11tomotive, 6 tor retail-other conaumera 1 1oocla, 10 tor wholeaale automotive, ll
tor ind11atrial, c011111ercial, and. tara equipment, and 31 tor wholesale-other than utautive.
The data on the ciU'rent treacle ot ealea tioaocinl for the 1100th ot Karch are baaed. on report•
fraa 293 ealel finance cOIIp&Diea, . leither the dollar TOl111181.ftOJ' the 1Ddieel aaeald be V.led ~· 1Adit&te
the total &IIIOWlt ot tinanoin, b7 all aalea finance comp,aniea in the United. States. The c1ata are publilhed.
aa re,P.!)rtec1 withollt adj11at1unt tor at&aooal or price tlllctuationa. The .dollar volUMe in tables
6, and
7 ot this release are not comparable to those Pllbliahed tor JanllaJ'7 or.Febl'll&r71 since .the reports campllecl tor the 1110nth ot Karob. are not in all caaea !rom t.be liM comp&Diea u were those oomplled. tor the
prev1oll8 releaaea tor Janu&r7 or Febr11ar7, All indices tor March were ·obtaiaed. br oalolllatial the percent
chan1•1 !rom Febr11ar7 to Karch, aa shown b7 reports tot Febr11&1'7 &Del larch tro. ~aniea reportinl comparable c1ata, and b7 JJ.nkinl these percentqea to the 1Ad1cea previou.al.T d.erived. tor Pebru.17 1942.

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SALES FINANCE COMPANIES

Taole 1. -- Automotive and Dl var.,itied Finsr..J ing !/
Index ot Trends in Outstanding Balances by Class <it Paper
December 31, 1939 100

=

Date

Total
all
sales
financing

Retail
automotive

Wholesale
automotive

Wholesale
other
consumers'
goods

Retail
other
consumers'
goods

1939 - Dec. 31 ••••

100

100

100

100

100

100

1940 - Dec. 31 ••••

136

132

169

119

129

9'1

------

----

---

------

----

1941 -Feb,
-Mar.
- Apr.
-May
- J"une
- J"uly

----

- Oct. 31 ••••
- Nov. 30 •••
-Dec, 31 ••••

--

152

138
142
152
163
1'11
1'16
1 '18
170
164
15'1
149

1942 - Jan. 31 ••••
-Feb, 28 ••••
-Mar. 31 ••••

147
143
135

139
.128
116

28 ••••

31 ••••
30 ••••
31 ••••
30 ••••
31 ••••

- Aug. 31 •••.•
- Sap. 30 ••••
0

!/

--

Industrial,
commercial
and tam
equipment

1'15

-

21'1

148

-

---93

196
234
233

232
275
242

143
139
135

91
91
91

Data tor :Tanuarr 31, 1941 through November 30, 1941. are derived trom· the report "Automobile
Data as ot December 31 tor the
FinauciDs" previously published by the Bureau ot the Oensua.
'iear .. ot 1939, 1940, and 1941 are bued on figures reporte,d by sales tinmce compmiu .on. a
supp:.~~e!ltarr report torm which accompanied the resuJ,ar monthly report torm tor Januarr 1942.
Data .. ..,r 1942 are deriyed by calculatins the peroentqe chqe · ot the. outstmdiD& balmoes tor
each month trom the previous month, as shown by matched sohedulea, and by linkinc this percent•
age to th3 index tor the previous month.

Table 2, •• Automotive FinanoiD& J/
Index ot Trends in Number ot Oars Financed, 1142
Januarr 1942 • 100
·
Olal'a ot paper

Januarr

Flbruarr

March

Total retail automotiT••••••••••••••••••••••••

100

70

79

New passeqer oar a. , , ••.• , , •• , • , , , , • , , , , , , , , •

100

22

43

New trucks, buses, ·tractor-trailers,,,,,,,,.

100

29

47

Used passeD&er

CIU'Io , , ·• , , , , , • , • , , • , •••••• , i,

100

77

83

Used truqks, buses, traotor-trailera ••••••••

100

77

. 73

I

--..,t
Bureau

!(

the Census

D~ta

Current Statistical Service

are based on figures reported monthly by those sales finance companies which had also reported their figures tor the previous month,
Data tor March are derived by calculating the
percentage ~hanges in the n~ber or oars financed trom February to March and by linking .these
paro~:~ntage changes" to the indices tor the previous month.
The indices of' the total tor retail
aute;~otive are based on :t'igures reported tor this item regardless ot whether or not a breakdown
could be supplied.
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Table 3.-- Autcmotive ~inanciDS !/
Index of 'l'rellds ill Volume of Paper Acquired, 1942
;rllllUill'J' 194.2 • 100
Class ot paper

J anUill'J'

:hbrual'J'

March

Total retail automotive ••••••••••••••••••••••

100.

62

73

Bew paasenser cara •••••••••••••••••••••••••

100

22

46

New trucks, buaes, tractor-trailers ••••••••

100

29

41

cars ••••••••••••••••••••••••

100

73

81

Used trucks, buses, tractor-trailers •••••••

100

81

73

Total Wholeaa1e automotive •••••••••••••••••••

100

.93

39

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

100

100

37

Usedcars (passenger and cOIIIIIlercial) •••••••

100

67

66

Used

!I

pas~qer

Data are based on figures reported monthly by those sales finance companies Which had elso reported their figures tor the previous month.
Data tor Karch are derived by calculating the percentage changes in the volume ot automotive paper acquired trom Febru:al'J' to 'March .and by linking.
these percentage changes to the indices tor the previous month.
The indices ot the totals tor
retail automotive and tor Wholesale automotive are based on figures reported tor these items regardless ot whether or not a breakdown could be supplied.

Table 4.-- Diversified Financing!/
Index ot Trends in Volume ot Paper Acquired, 1942
January 1942 : 100
Class ot p•per

January

Februlll'J'

Karch

Total retail- other consumers' goods ••••••••

100

103

137

J'u.mi ture ••••• • •••••••••••••••••••.• ••••••••

100

88

122

musical instruments • ................... ·-· •

100

10l3

14i

Refrigerators, (gas and electric) ••••••••••

100

14.7

250

Other household appliances •••••••••••••••••

100

115

169

:modern1ZatloD •••• •••••••••••• ·•••••••• • •••

100.

92

119

lllscf!Jillaneous retail • •••••••.• ~ •• ~ •••.•••.••

100

144

155

Total Wholesale - other .1;ll.an _ automot1ve ••••••

100

154

99

Industrial, COIIIIIlerci_al, and tarm equipment •••

100

157

194

Total diversified financing ••••••

100

127

146

Radio, te.levision sets, pianos and other

Residential building repair and

Bureau ot the Census

!/ Data

,y

Current Statistical Service

are based on figures reported monthly by those aal,ea tillanoe companies Which had also reported their figures tor _the previous month.
Data tor Karch are derived by calculating the percentage changes in the volume ot divel"sitied paper acmuired .trom hbruary to Karch and bt l~ing
these l!Srcentage changes to the indices tor the previous month.
The ilicUcea · ot "Total retail. other conBUIIlera•:.. goods" are baaed on tiglires reported tor these items regardless ot Whether or"
not. a breakdoWn. could be supplied •

http://fraser.stlouisfed.org/
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Federal Reserve Bank of St. Louis

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SALES FINANCE COMPANIES
Table :>.- Automotive end Diversified Financiiig
Volume of Paper Acquired During March 1942 and Balances Outstanding March 31, 1942
Dollar volume of paper acquired
Ratio of paper
during March 1942
Outstanding
acquired to
balance a
By all companies
Class of paper
outstanding
Mlrch 31 1
By all
report iDa
balances Y
outstanding
1942 21
companies !/
balances

'ii

Total retail automotive ••••••••••••••••••••
Total wholesale automotive •••••.••••••••••••
Total wholesale -other than automotive ••••
Total retail - other consumers' goods ••••• ,
Industrial, commercial and farm·equipment ••

J1

21
y

$39,515,671
$39,012,548
$989,532,229
4
385,499,46!3
10
39,923,585
39,646,851
31
3,252,912
3,180,846
10,254,869
18,015,209
17,736,960
6
291,697,267'
1 334 264
12,134,260'
11
1,294,964
$101,072,169
6
$1,689,118,088
Total sales financings ••••••••••• $102. 041, 6'41
Data are based on reports from all sales finance companies regardless of whether or not they could supply
a breakdown and whether or not they could report their outstanding balances.
Data are·based on figures from sales finance companies able to report both their paper acquired and their
outstanding balances.
Ratios obtained by dividing paper acquired by outstanding balances for an identical group of firms.
Table 6.- AutomotiTe Financing y
Number of Cars Financed and Volume of Peper Acquired During March 1942
Volume

Number of cars
Class ot paper

Percent

Percent
Number

of

Dollars

of

total

total

TOtal ·retail automotive •..•• , •..•••.. , •..••
New passenger oars.·, .....................
New trucks, buses,· tractor-trailers ••••••
Used passenger cars ••••••••.•..•••.•.••••
Used trucks, buses, tractor-trailers •••••

93,092
5,048
1,332
81,907
4,805

-

!22.

!38.911.602
3,959,475
2,540,456
30,480,843
1,930,828

5
2
88
5

y

!QQ.
10
7
78
5

21

Total wholesale automotive •••••••••••••••••
i37.5351 000
!QQ.
82
New cars (passenger and commercial) ••••••
30,901,419
18
Used cars (passenger and commercial) •••••
6,633,581
!/ Data are based on reports from sales finance companies providing a breakdown of their retail and wholesale
automotive financing.
!J/ These 111111ounts are less than those reported in column 1 of table 5 due to the inclusion in that table of
data from the sales finance companies thet could not provide a breakdown.

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Table 7.- Diversified Financing!/
Volume of Paper Acquired During Maroh 1942
Percent
Class of paper

Dollar volume

of

total
Re·~ail

• other consumers' goods:

:rumi ture • .••.••..• , ........•....•..••.••..••..••

$361,635

3

Radio, television sets, r1anos and other

musical instruments ....•..•. , ••..•••. ...•.• , ..
Refrigerator•, · (gas and electric) •••••••••••••••
Other household.appl1anoe8 •••••••••••••••.••••••
Residential building repair and modernization •••
lliac'-~l@eous retail;•••••••••••••••••••••••••••
Total ret.ail - other cdnSUIII8rs' goods •••••••••••••
Total wholesale - other than automotive ....... ; ...
Industrial, commercial, and farm equipment ••••••••
Total diversified financing •••••••••••
Bureau of the Censua

!I

21

548,985
3,053,686
1,184,238
3,'352,413
716,801
9,217,758
3,252,912
1,334,264
$13,80i,934

4

22
9.

24
5

y

67
23.
10
.100
Current Statistical Service

Data ara based on reports from sales finance companies providing a breakdown of their retail financing of
other ;,onsumera' goods.
This eount is less than that reported in column 1 of table 5 due to the inclusion in that table of data.
from the salsa finance companies that could not provide a breakdown.
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