Full text of G.20 Sales Finance Companies : October 6, 1970

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FEDERAL

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statistical

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r e l e a s e

October 6, 1970
SALES

INANCE COMPANIES
AUGUST 1970

Holdings of consumer instalment paper by sales finance companies increased
$14 million in August. A decline of $38 million in passenger car paper outstanding
was offset by increases in other retail consumer goods and personal loans outstandings
These increases, however, were the result of reduced repayn ertts of debt compared w i t h J
July rather than an acceleration of credit extensions durin g the month of August.
Consumer credit loans made directly and paper pur chased by sales finance
companies during August amounted to $261 million, less than July extensions. August
extensions of credit also were $91 million less than those df August 1969. All major
types of consumer paper contributed to these declines.
August repayments of debt to sales finance compan Les dropped $209 million
below July repayments, with passenger car repayments consti: uting approximately
70 per cent of this decline>
Business credit outstanding at sales finance compainies dropped $1,174 million
during August. A seasonal decline in wholesale automotive 6aper accounted for almost
three-fourths of the decrease.
Outstanding Credit Held by Sales Finance Companies
(In millions of dollars)

Type of credit

August 31;
1970

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

Aug,
1970

ase or decrease during:
Year ended
Aug.
August 31, .1970
1969

_14
10,429
5,332
60
. 3,780

-141

38

-

25
1
28

51
1
56

193
9
293

1,185

11,945

1,510
3,572
566
6,297

-

12
-866
-114
-206

- 7
-787
29
39

.

98
483
-209
1
813

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

*
Digitizedsubsidiaries.
for FRASER
2/ Less than 0.5 million jdoliars .


G.20

. '

"

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

""""

Type of. credit

Consumer instalment credit
Retail.automotive (passenger cars)
New - Used

1J10

-261

-91

623

-168

-65

-129
- 39

-38
-27

- 74
- 1 .
- 18

-16
- 1
- 9

441
182

Other consumer goods
Home repair and .modernization
Personal loans
Business credit ._!/
Retail automotive

(commercial vehicles)

. "New Used

•

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

Change from:
Year
Month
ago
ago

August •
1970

335
.
2/
352

^

2,028

-1,077

139

- 24

2/
3/
940
3/
3/
136
813

.

83
'

3/

3/

3/

3/

. -947

64
3/
3/

3/
3/
33
- 73

-37
30
1

_1/Excludes some credit extended to business, such as that extended by
- factoring.subsidiaries.
2/Less than 0.5. million dollars .
3/Not available due to revisions in reporting.




26

Number of Motor Vehicles Financed by Sales
(In thousands)

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

Change from:
Year
Month
ago
ago

August
1970

Type of vehicle

%

Total financed at wholesale
New (passenger and commercial)
Used (passenger and commercial)
. _l/Not available due to revisions in reporting.




finance Companies

237

-54

129
108

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1/

,

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-38

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-17
-21
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