Full text of G.20 Sales Finance Companies : October 6, 1964

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**77ko
October 6, 1964
v

/ SALES FINANCE COMPANIES
AUGUST 1964

Consumer instalment credit at sales finance companies increased
$116 million during August. As in July, retail passenger car and personal
loans registered greater than seasonal advances. In neither case,
however, was the expansion as great as in August, 1963. The seasonal
rise in other consumer goods amounted to $29 million, as against a decline
of $25 million for the same month a year earlier.
Sales finance companies acquired $70 million less paper in
August than in July, though more than in August 1963. The decline from
July centered in acquisitions of retail auto paper, which dipped to a
total slightly under the same month a year ago. Purchases of other
consumer goods paper showed a vigorous increase of $86 million from
August 1963.
Business credit continued to decline in August, reflecting a
seasonal cutback in the wholesale automotive area.
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 modernization loans
Personal loans
Business credit 1/
Retail automotive (commercial vehicles)
Wholesale automotive
Wholesale other than automotive
Other business credit

Aug. 31,
1964

Increase or decrease during:
Aug,
Year ended
Aug.
1964
1963
AuR. 31. 1964

14,475

+116

+ 99

+1,569

8,799
3,643
149
1,884

+ 58
+ 29
0
+ 29

+ 84
- 25
- 1
+ 41

+
+
+

646
657
12
278

5,766

-520

-550

+

520

858
1,641
445
2,822

+ 3
-535
- 2
+ 14

+ 11
-582
4
+ 17

+
+
+
+

119
341
34
26

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




'

G. 20

-2-

Credit Extended by Salas Finance Companies
(In millions of dollars)
Change from:
August
1964

Type of credit

Consumer instalment credit
Retail automotive (passenger cars)
New
Used
Other consumer gooes paper
Repair and modernization loans
Personal loans

•

Business credit JL/
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/

Month
ago

Year,
ago

1,172

- 70

78

642

- 31

- 16

422
220

- 46
r 35

- 22

304
9
217

+
-

1,319

. 6

11
1
1

-I- 86

-540

114

0
8

-3

74
60
14

-

5
3

-

4
l

719

-548

-i- 90

664
55

-545
- 3

-

132
394

•I-

+

8

8

93
3
6
15

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




G. 20

-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
1964

Change from:
Month
ago

Year
ago

353

- 30

-23

153
177
16
7

- 13
- 23
- 2
0

-}- 1
-28
0
- 2

310

-207

-i-30

263
47

-206
- 1

-134
- 4

Credit Sales of New Passenger Cars as a Per Cent
of Total Number Sold at Retail 1/
Credit Sales

Per Cent

1964 - August
July

75
75

1963 - August

76

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, D. C. 20551