Full text of G.20 Sales Finance Companies : September 11, 1964

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• FEDERAL

.vo°y£M:-

statistical

G.20

OCT - 9

RESERVE

release

Mk

September 11, 1964.
SAL5S FINANCE COMPANIES
JULY 1964

Retail passenger car and personal loans accounted for an
increase of ',131 million in consumer instalment credit at sales finance
companies in July. Both types of credit registered greater than seasonal advances, although in neither case was the rise as large as in
July a year ago.
New acquisitions of consumer instalment paper were *582 million
below the June total, but extensions were up from-July 1963, with a -75
million increase•in non-automotive consumer goods paper accounting fof a
major portion of 1the rise. Repayments in Jttl^ as in earlier months of
'1964, remained at a high level.
Business credit decreased SI96 million in July, largely as a
result of a decline 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

July 31,
1964

Increase or decrease during:
July
Year ended
July
July 31,1964
1964
1963

14,559

+131

+114

+1,552.

8,741
3,614
149
1,855

+108
- 1
- 1
+ 25

+135
- 58
0
+ 37

+
+
4

672
603
13
Z<?0

6,286

-196

+ 22

+

490

855
2.17 6
447
2,808

+ 13
-186
- 19
- 4

+ 14
+ 28
- 8
- 12

+
+
+
+

127
294
40
29

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




G.20

-2-

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

July
1964

Type of credit
Consumer instalment credit
Retail automotive (passenger cars)
New
Used
Other consumer goods paper
Repair and modernization loans
Personal loans
Business credit \j
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/

Change from:
Year
Month
ago
ago

1,242

- 82

+ 83

723

- 35

- 11

468
255

- 22
" 13

0
- 11

295
8
218

- 49
- 1
+ 3

+ 75
- l
+ 20

1,659

-384

-145

82

-

6

+ 10

65
17

-

6
0

+ 10
0

1,267

-342

-163

1,209
58

-336
- 6

-158
- 5

124
38 6

- 12
- 24

- 4
+ 12

l/ 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)

July
1964

Change from:
Year
Month
ago
ago
- 31

391

- 16

166
200
18
7

+

9
8
1
0

- 6
- 21
0
- 4

517

-123

- 63

469
48

-117
- 6

- 57
- 6

—

i

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

Credit Sales

Per Cent

1964 - July
June

75
69

1963 - July

73

if 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