Full text of G.20 Sales Finance Companies : October 1, 1954

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£/

BOARD OF GOVERNORS OF THfc FEDERAL RESERVE SYSTfila
G.20

October 1, 19$h

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SALES FINANCE COMPANIES
AUGUST 195k

r

Passenger car instalment paper held by sales finance
companies continued upward during August, increasing 65 million
dollars to an estimated 5,li36 million at the month end* Total
consumer instalment credit outstanding at sales finance companies
• was estimated at 6,2% million dollars at the end of August,
67 million above the preceding month end and 332 million above
a year earlier.
The volume of credit extended on passenger cars, estimated at 590 million dollars, showed a further reduction from
the June high. As in the preceding two months, however, new
extensions in August were above a year earlier, as year-to-year
gains in new car volume more than offset declines in used car
financing. Approximately 180 thousand new cars and 258 thousand
used cars were financed by sales finance companies during the
month.
Wholesale automotive paper outstanding decreased
17 million dollars during August to a month-end total of
8^8 million. Other wholesale and commercial vehicle paper
also declined, while other business credit increased.

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

Type of credit

Aug. 31,
19$h

Consumer instalment credit
Retail automotive (passenger cars)
Other consumer goods papdr
Repair and modernization loans
Personal loans

6,256
5,136
335

Business credit l/
Retail automotive (commercial vehicles)
Wholesale automotive
Wholesale other than automotive
Other business credit

1,618

1/ Excludes some
http://fraser.stlouisfed.org/
factoring operations.
Federal Reserve Bank of St. Louis

82

U03
359
858
39
362

Increase or decrease during:
Aug. Aug. Year ended
1953 Aug. 31, 195U
195U
67
+ 65
0
0
+

2

- lU
- 2
-17
- 3
+

8

+108
+101
+ 7
- 3
+ 3
+
+

2
5
h
U

credit extended to business, such as credit arising from

G.20

— 2—
Credit Extended by Sales Finance Companies
(In millions of dollars)

Type of credit
Consumer instalment credit
Retail automotive (passenger cars)
New
Used
Other consumer goods paper
Repair and modernization loans
Personal loans
Business credit 1/
Retail automotive paper (commercial vehicles)
NewUsed
Wholesale automotive paper
New (passenger and commercial)
Used (passenger and commercial)
Wholesale other than automotive
Other business credit 1/

August
195U

Change from:
Month Year
ago
ago

686

- hi

+ 15

590

- 36

+ 12

355
235

- 8
- 28

+ 55
- U3

-

3
0
2

+ 2
- 2
+ 3

+ 23

- 60

36
5
55
8Ii3

-

3h

+

2

0

23
11

+

2
0

+ 2
- 2

705

+ 19

- 57

665
UO

+ 19
0

- U2
- 15

15
89

+

3
5

-

0
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)

August
1951

Change from:
. Month Year
ago
ago

h71
180
258
16
17

- 18

- 16

- 3
- 18
+ 1
+ 2

+
+
-

3U5

+ 11

- 31

309
36

+ 12
- 1

- 18
- 13

1U
30
1
1

1/ Excludes some credit extended to business, such as credit arising
operations.


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