Full text of G.20 Sales Finance Companies : October 4, 1961

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FEDERAL
statistical

RESERVE

release

77%
October 4, 1961

G..-20
/x 0* G0VEKN0/?5>S
SALES FINANCE COMPANIES

LIBRARY

AUGUST 1961

RESERVt^/^
Holdings of retail passenger car paper at. sales finance
companies decreased $45 million In August, compared with an increase
of $33 million in August i960. Total consumer instalment credit
at these companies declined $20 million.

Extensions of consumer instalment credit
companies rose $62 million from July to August, as
showed small increases. A year earlier extensions
$83 million. Sales finance companies financed 341
and used vehicles at retail in August, 12 thousand
July but 65 thousand fewer than in August i960.

"by sales finance
all major types
had decreased
thousand new
more than in

Outstanding business credit at sales finance companies
declined $458 million in August primarily because of a reduction
in the amount of wholesale credit on new passenger and commercial
vehicles.
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
Eepair and modernization loans
Personal loans
Business credit l/
Retail automotive (commercial vehicles)
Wholesale automotive
Wholesale other than automotive
Other business credit

1 Aug. 31,
1961

Increase or decrease during;
Year ended
Aug. I Aug.
1961 I960 1Aug. 31, 1961

10J30

- 20

+ 80

-412

7A37
2,476
62
1,055

- 45
+ 23
- 9
+ 11

+ 33
+ 35
+ 5
+ 7

-718
+216
+ 5
+ 85

3,160

-458

-278 ' '

-538"

541
1,085
137
1,397

- l
-484
- 3
: + 30

+ 1
-302
- 4
+ 27

- 87
-611
- 7
+167

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




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G.20

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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 l/
Retail automotive (commercial vehicles)
New
Used
Wholesale automotive paper
New (passenger and commercial)
Used (passenger and commercial)
Wholesale other than automotive
Other "business credit 1/

Aug.

I Change from:
Year
i Month
_SS2™
- 63

I211
S

91
27

233

16

6

1
20

140

8

f
-

37

11

83

-I1.56
-"567
+ 11

k9

+ 6

192

+ 25

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




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G.20

- 5 -

Number of Motor Vehicles Financed by Sales Finance Companies
(in thousands)

Type of vehicle

August
1961

Change from:
Month
Year
ago
ago

Total financed at retail
New passenger
Used passenger
New commercial
Used commercial

M

122
196
13
10

+ 12
+ 3
+ 8
+ 1
0

-

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

256
163
73

-184
-190
+ 6

-127
-131
+ 4

65
35
24
2
4

Credit Sales of New Passenger Cars as a Per Cent
of Total Number Sold at Retail 1/
Credit Sales
1961 - August
July
I960 - August

Per cent
70
68
69

1/ 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.