Full text of G.20 Sales Finance Companies : October 3, 1968

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FEDERAL

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statistical

RESERVE

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October 3, 1968
SALES FINANCE COMPANIES
A U G U S T 1968

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For the month of Augusc, sales finance companies experienced 'greater
than seasonal increases in consumer instalment credit outstanding, reflecting,
in part, repayments receding from high July levels. Purchases of paper,- except
for passenger cars, increased over the amounts acquired in July, also contributing
to the $189 million increase in outstandings.
Although August passenger car paper purchases dropped $92 million from
July acquisitions, they were $100 million higher than in August 1967. Total
extensions this August, in fact, were $183 million higher than in August of last
year.
.
Business credit outstanding declined $966 million because of the sharp
seasonal drop in wholesale automotive credit.
Outstanding Credit Held by Sales Finance Companies
(In millions of dollars)

Type of credit

Consumer instalment credit
Retail automotive (passenger 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

August 30,
1968

Increase or decrease during:
August
August
, Year
ended
August 30, 1968
1968
1967

17,454
9,329
5,098
•• - 80
2,947

189

-

75
55
2
61

8

699

- 52
29
1
32

129
317
- 27
280

-

7,917

-966

-819

1,341

1,132
2,303
704
3,778

18
-1,037
9
44

11
-851
8
13

62
583
161
535

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




- G.20

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

Type of credit

Consumer

instalment credit

Retail automotive (passenger cars)
New
' Used

.

'Other consumer goods
Home repair and modernization
Personal loans .
Business credit It
Retail automotive (commercial vehicles)
New
Used

.

.Wholesale automotive paper
. New (passenger and commercial)
- Used (passenger and commercial)
Wholesale other than automotive
Other business credit

August
1968 .

1,443
676
467
• 209

Change from:
Month
Year
ago
ago •
61

183

-

92

100

-

71
21

80
20

-

423
3
341

15
1
15

1,792

-1,209

27
3
59
465

118

-

9

6

96
22

-

8
1

10
4

675

-1,281

156

634
41

-1,273
8

167
- 11

208
791

17
64

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




-

38 '
265

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 commerical)
Used (passenger and' commercial)

1/ Less than 0.5 thousand.




August
1968

Change from:
Year
ago

Month
ago

323

-34

32

147
138
26

- 22
- 11
T
1

18
7
8
- 1

12

1/

\

^54

-419

47

222
32

-415
4
-

• 53
- 6