Full text of G.20 Sales Finance Companies : November 7, 1968

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- N o v e m b e r 7, 1968

SALES FINANCE C O M P A N I E ? ^ ^ ^ . A . f-J-Jj-, a SEPTEMBER 1968
Consumer-'instalment credit outstanding at sales finance companies increased $1 million during September, as a seasonal decline in passenger car credit
outstanding largely offset the usual increases in -outstandings of other consumer
goods and personal loans. Extensions of all types of credit declined from the
August levels, with passenger car paper registering.more than the expected seasonal
drop. Except in the case of passenger cars, repayments were higher in September
than in the previous month.
During the third quarter as a whole all categories of consumer instalment credit outstanding at sales finance companies (except repair and modernization
loans) showed strong increases. Total consumer credit increased $360 million compared with a $20 million decline in the same quarter of last year. The current
quarter's increase was the second largest spurt in outstandings registered for
It was-surpassed only by the $430 million inany third quarter in the 1960's.
crease reported in the third quarter of 1965.
Sales finance companies acquired $4,211 million of consumer instalment
paper during the third quarter of 1968 while recording repayments of $3,851 million.
These acquisitions were $585 million higher than the acquisitions of a year ago
and $152 million: higher than recorded in the second quarter of 1968. Repayments
were $206 million greater than in the third' quarter of 1967 and $187 million
greater than in the second quarter of 1968.
Outstanding. Credit Held by Sales Finance Companies
(In millions of dollars)

Type of credit

Consumer

instalment credit'

Sept. 30,
1968

,

Increase or decrease during:
Year ended
Sept-.
Sept.
Sept. 30, 1968
1968
1967
-54

17,455

""

754

Retail automotive (passenger cars)

9,257

- 72

Other consumer goods
Home repair and modernization
Personal- loans

5,139
77
2,982

41
3
35

1 ,
24

7,879

- 38

66

1,237

1,131
2,217
689
3,842

1
- 86
- 15
64

- 13
74
- 14
19

74
423
160
580

Business credit 1/

-

Retail automotive (commercial
vehicles)
Wholesale automotive
• Wholesale other than automotive
Other business credit

-121

.

!

178
315
- 30
291

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


subsidiaries.
http://fraser.stlouisfed.org/
2/Less than 0.5 million dollars.
Federal Reserve Bank of St. Louis

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

Type of credit

Change from:
Year
Month
ago
ago

September
1968

Consumer instalment credit

-179

122

-157

58

346
173

-121 '
- 36

39
19

419
3
323

-

1,264

Retail automotive (passenger cars)
—

New
Used

-

Other consumer goods
/ ,Home repair and modernization
Personal loans
Business credit- _1/ .
Retail automotive (commercial vehicles)

"

-

- 18

/

4
5
65.
241

-348

2,140'
103

4
2/

-JL5
14
1

83
20

-13
-' 2

Wholesale automotive paper

1,087

412

- 86

New (passenger and commercial)
" Used (passenger and commercial)

1,049
38

415
3

- 79
7

187
763

- 21
- 28

52
262

Used

•

1

•

Wholesale other than automotive
Other business credit

1/Excludes some credit extended to. business, such as that extended by
factoring subsidiaries.
2/Less than 0.5 million dollars.




-

G.20
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:
Year
Month
ago
ago

September
1968
261
111
117
22
11

25

"-5
- 36
- 21
- 4

;
>•

1

"

-

9
io
2
• 4

346

92

>52

317
29

'95
3

- 53
-

4

•