Full text of G.20 Sales Finance Companies : October 3, 1957

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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
0.20

October 3, 1957
SALES FINANCE COMPANIES
;

August 1957

Sales finance company holdings; of retail passenger car instalment paper increased &66 million in August to an estimated $7,532 million
at the end of the month. This compares with August increases of $>276 mil
lion in 1955 and #80 million in 1956.
Retail credit extended on passenger automobiles decreased # 7
million from the July volume * reflecting declines in both new and used
car paper extended. In August about 169 thousand new passenger and 223
thousand used passenger'cars were financed.
Wholesale automotive paper outstanding increased
million
to an estimated $1,530 million, $U50 million above the level of a year
earlier. Other types of business credit showed a net increase of $15
million* '
Outstanding Credit Held by Sales Finance Companies
(In millions of dollars)

Type of credit
Consumer instalment credit
Retail automotive (passenger cars)
Other consumer goods paper
Repair and mo'derni zation lo ans
Personal loans!
Business credit 1/
Retail automotive (commercial vehicles)
Wholesale automotive
Wholesale other than automotive
Other business credit

Aug. 31
1957

Increase or decrease during:
Aug. Aug. Year Ended
1957 195$ August 31, 1957
+1QU

+ 612

9 >565

+8?

7,532
1,38b
22
. 627

+66
+15
.... 0
+ 8

2,8iiO

+60

- 59

• +5U0

550
1,530
108
652

+ 6
+15
- 7
+16

+ 7
- 98
0
+ 32

-17
+U50
- l
+ 108

+188
+ 80 i
. +323
+ 12
- 2
0 •
+ 103
+ 12

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
Year
Aug. Month
a
6° . ago
1957
201
681
1P+2
239

ziia. .±22...
- 2
-16
- 15
. - 31 + 13
- 58
- 1
- 13

+ 30
- 1
+ 5

lj210_
Business credit 1/
Retail automotive (commercial vehicles)
36
New
17
Used

+ 21
+ 1
0
+ 1

+12&

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

982
932
53

+ 21
+ 20
+ 1

±]M+l4l
+ 5

Wholesale other than automotive
Other business credit 1/

46
126

+ 4
- 5

- 3
- 17

Other consumer goods paper
Eepair and modernization loans
Personal loans

136
1
85

+

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




3

G.20

- 3 Number of Motor Vehicles Financed by Sales Finance Companies
(in thousands)
Change from:
Year
Month
ago
ago

Type of vehicle

Aug.
1957

Total financed by retail
New passenger
Used passenger
New commercial
Used commercial

426
159
223
16
18

-27
- 7
-23
+ 1
+ 2

-21
-15
- 4
0
+ 1

Total financed at wholesale
New (passenger and commercial)
Used (passenger and commercial)

440
395
45

+13
+12
+ 1

+43
+35
+ 5

Credit Sales of New Passenger Cars as a Per Cent
of Total Number Sold at Retail 1/
Credit Sales
1957 - August
July
1956 - August

Per Cent
71
79
76

l/ Based 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 25, D. C.