Full text of G.20 Sales Finance Companies : November 6, 1961

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G.20

November 6 , 1961

SALES/FINANCE COMPANIES
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•
SEPTEMBER I96I
R e t a i l passenger c a r paper held by s a l e s f i n a n c e companies
decreased $112 m i l l i o n i n September to $7,02$ m i l l i o n . This compares
with a reduction of $23 m i l l i o n i n the corresponding month of i960.
Other major types of consumer instalment c r e d i t a t s a l e s f i n a n c e companies rose i n September. Total consumer c r e d i t a t these companies
declined $40 m i l l i o n .
Extensions of. consumer instalment credit-were $10% m i l l i o n
lower than i n August. Extensions of r e t a i l passenger automotive
c r e d i t declined $ 109 m i l l i o n i n September and wore $134 m i l l i o n lower
than i n September i960.
Sales f i n a n c e companies financed 280 thousand v e h i c l e s a t
r e t a i l , 6 l thousand fewer than i n August. At wholesale, the number
of new v e h i c l e s financed rose 77 thousand as new model automobiles
made t h e i r appearance during the month.
Outstanding Credit Held by Sales Finance Companies
( i n m i l l i o n s of d o l l a r s )
Type of c r e d i t
Consumer instalment c r e d i t
R e t a i l automotive (passenger cars)
Other consumer goods paper
Repair and modernization loans
Personal loans
Business c r e d i t 1 /
R e t a i l automotive (commercial vehicles)
Wholesale automotive
Wholesale o t h e r than automotive
Other business c r e d i t

I

j I n c r e a s e o r decrease during;
Sept. 30,J Sept. j S e p t . j Year ended
Sept. 30, 1961

10,690

+ 22

7,025

1,082
3,218

86

1,132
1,415

-

1 / Excludes some c r e d i t extended to business, such as t h a t extended by
factoring subsidiaries.
2 / I n c r e a s e includes the e f f e c t of a downward r e v i s i o n of $3 m i l l i o n in
o t h e r business c r e d i t outstanding, August 30, 1961.



6

G.20

-

2

-

C r e d i t Extended by Sales Finance Companies
( I n m i l l i o n s of d o l l a r s )

% p e of c r e d i t

Sent.
1961

Change from:
Year
Month
ago
ago

- 72
- 37

- 80
-134
-110
- 24

253
5
123

+ 20
- 1
- 17

+ 39
0
+ 15

_46....
35
11

+188
- 2
- 2
0

+134

Wholesale automotive paper
New (passenger and commercial)
Used (passenger and commercial)

632
610
72

+216
+227
— 11

+i?7
+155
+ 2

Wholesale o t h e r than automotive
Other b u s i n e s s c r e d i t 1/

42
173

- 7
- 19

- 5
- 15

Consumer i n s t a l m e n t c r e d i t
R e t a i l automotive (passenger cars)
New
Used
Other consumer goods paper
Repair and modernization 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

121

418
244
174

=m
=m

-

1/ Excludes some c r e d i t extended to b u s i n e s s , such a s 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 .




2
1

G-.20

- 3 -

Number of Motor Vehicles Financed by Sales Finance Companies
( i n thousands)
Type of v e h i c l e
T o t a l financed a t r e t a i l
New passenger
Used passenger
New commercial
Used commercial
T o t a l f i n a n c e d a t wholesale
New ( p a s s e n g e r and commercial)
Used (passenger and commercial)

f September
|
1961
I

Change from:
| Year
j Month
ago
ago

280
95
164
13
8

-61
-27
-32
0
- 2

-25
- 1
- 3

308
20
68

+72
+77
- 5

+41
3k3
- 2

-73

C r e d i t S a l e s of New Passenger Cars as a Per Cent
of Total Number Sold a t R e t a i l l /
Credit Sales
1961 - September
August
i960 - September

P e r cent
S T "
70
71

1 / Based on new c a r i n s t a l m e n t c o n t r a c t s acquired by
s a l e s f i n a n c e companies, o t h e r f i n a n c i a l i n s t i t u t i o n s , and
d e a l e r s . Data f o r p r i o r months may be obtained by w r i t i n g
D i v i s i o n of Research and S t a t i s t i c s , Board of Governors of
Reserve System, Washington 25, D. C.

banks,
automobile
to the
the Federal