Full text of G.20 Sales Finance Companies : November 4, 1966
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SALES F I ^ & C E ' C o m p a n i e s -
November 4, 1966
Tr-9Bfra®gRr-t966-- ...Sales; finance companiesi increased their holdings'of' dd^tinier
instalment c r e d i t $ 2 7 mil 1T5S1 ^ffhSffpmrirer-r- 'The• dec 1 i-ne-retati*-aut-o
motive paper outstanding was offset;by increases in other consumer goods paper
U
:
:;?t
v
and personal "loans. ' ''
;
' Total; consumer jLnstattnQnt paper acquired during "September :was'v
$174 million less; th^jj:-$Ln Apg^^t, with most of the decrease accounted for by
passenger car paper. :.<.i Extenisipn£ totalled $3,763 million for the third quarter,
about 2 per cent less than {the total for the same period.last year. Total
extensions for the first th,ree quarters of this year were $11,101 million,
virtually unchanged from $11,-134 million for the same period last year.
Business credit outstanding declined for the third consecutive*
month, but in contrast to the :_two ^preceding months which saw large drops in
wholesale automotive paper J flie *butk of the September decrease was -in' otHer
business credit. • Extensions ,for business qre^it w e r s up $372 million in
September, due primarily to Che increase in wholesale automotive paper'.
;
;
Outstanding Credit Held by Sales Finance Companies
'
(In millions of dollars)
Type of: credit.
•
I
Consumer instalment ^credit; .lV.;
Retail autoimoiffvel
£s ewger cars^:
Other consumer goods
Home repair and modernization
Personal loans
Business credit 1/
Retail automotive
(commercial vehicles)
Wholesale automotive
Wholesale other than automotive.
Other business credit
Sept.30,
1966
'
'
Increase or decrease during:
September Year'etided'
1965 • Sept'l': 30v4\L'966
•-
81
f :
9 5 7
16,759
27
4,693
112
2,527
"' 61
0
37
-
6,486
2159
-496
574
1,043
1,948
595
2,900
7
- 47
5
-100
4
-533
- 4
37
129
348
97
•
0
'
79
2
43
1
-
489": ^
17
•
254
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)
Type of credit
•
Consumer instalment credit
Retail automotive (passenger cars)
. New ^
Used
1,162
*
_531
354
. 177
Other consumer goods
Home repair and modernization
Personal loans
Business credit 1/
Retail automotive (commercial vehicles).
New
Used
Change from:
Month ,
Year
ago
Sept.
' 1966
,
> - .
Wholesale automotive paper
New- (passenger and commercial)
Used „ (passenger and commercial)
Wholesale other than automotive
Other business credit 1/
373
7
251
-174
- 66
-154
2-53
-116
- 38
- 28
- 25
-
- 20
.2
5
1
1
- 20
1,662
_372
'
82
"zJ1
64
18
- 18
7
0
0
930
380
364
882
48
160
490
•
382
- 2
-
6
23
1/Excludes some credit extended to business, such as that extended by
factoring subsidiaries.
_400
-
365
1
- 4 .
- 40
>
G. 20
-3
Number of Motor Vehicles Financed by Sales Finance Companies
(In thousands)
Type of vehicle
Total financed at retail
'New passenger
Used passenger
New commercial
Used commercial
Total financed at wholesale
New (passenger and commercial)
Used (passenger and commercial)
Change from:
Month
Year
ago
September
1966
,
i
I
274
zJl
- 49
118
132
15
9
- 42
- 29
- 4
- 4
- 21
- 23
5
0
350
-AH
-103
312
38
134
1
-
.
Credit Sales of New Passenger Cars as a Per Cent
of Total Number Sold at Retail 1/
Credit Sales
1966 - September
1966 - August
1965 - September
Per Cent
'
' 75
'
r85
86
V B a s e d 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, D . C.
20551.
r r Revised.
107
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@FedFRASER