Full text of G.20 Sales Finance Companies : September 2, 1953
The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
BOARD OF GOVERNORS OF THE-'FEDERAL RESERVE- SYSTEM q # 20 September 2, 1953 SALES FINANCE COMPANIES ' JULY 1953 ^--Passenger car instalment c r e d i t held by s a l e s f i n a n c e companies amounted t o an estimated 5*007 m i l l i o n d o l l a r s a t the end of July_> 171 m i l l i o n above t h e preceding month-end and l,Ul8 m i l l i o n above the year-ago l e v e l . The July i n c r e a s e continued an upward movement t h a t has been uninterrupted since i t began i n April of l a s t y e a r • Total consumer i n s t a l ment c r e d i t outstanding a t s a l e s finance companies a t the month-end was estimated a t 5,816 m i l l i o n d o l l a r s 9 183 m i l l i o n above a month ago and 1,553 m i l l i o n above J u l y of l a s t y e a r . . New extensions of c r e d i t on passenger cars continued i n large volume during J u l y , having been exceeded previously only by the record volume of June 1952. The July f i g u r e of 623 m i l l i o n d o l l a r s was about equally divided between new and used car f i n a n c i n g . New car financing wasabove both a month ago and a year ago; used car f i n a n c i n g was aoove the June volume but below a year ago. Wholesale automotive c r e d i t outstanding a t s a l e s finance companies increased 32 m i l l i o n d o l l a r s t o an estimated 888 m i l l i o n a t the end of J u l y . The month-end f i g u r e was about SO per cent above t h a t of a year ago. Holdings of r e t a i l paper on commercial v e h c i l e s were moderately below both the preceding month and July of l a s t y e a r . Outstanding Credit Held by Sales Finance Companies (In m i l l i o n s of d o l l a r s ) Type of c r e d i t Consumer instalment c r e d i t R e t a i l automotive (passenger c a r s ) Other consumer goods•paper Repair and modernization loans Personal loans Business' c r e d i t R e t a i l automotive (commercial v e h i c l e s ) Wholesale automotive Wholesale-other than automotive Other business c r e d i t - : t Change! from* J u l y 31, Year Month 1953 . . • ago 5,816 5,007 367 75 367 1,8L3 507 " •' ; 888 ' « * . . - » i• • " '398 +183 " +1,553 ' +i,lil8 +171 + : 86 + 11 5 1 ' + + UU + 2' - 5 - 36 +' 32' + U3U 3h + 395 *• * + u + 75 1/ Excludes some c r e d i t extended t o b u s i n e s s , such as c r e d i t a r i s i n g from ~ f a c t o r i n g o p e r a t i o n s . a,20 k 2 Credit Extended by Sales Finance Companies (In millions of d o l l a r s ) July 1953 Type of c r e d i t Consumer instalment c r e d i t R e t a i l automotive (passenger cars) New Used Other consumer goods paper Repair and modernization loans Personal loans Business c r e d i t 1/ R e t a i l automotive paper (commercial vehicles) New Used Wholesale other than automotive Other business c r e d i t 1/ - 717 +12 + U3 623 322 301 +21 +10 +11 + 58 + 66 - 8 37 7 50 - 6 + 1 - U - 15 0 0 987 +61 +3UU b - 2 - 2 - 17 - 9 - 8 812 778 6k +7b +68 + 6 +359 +366 - 7 18 89 - 1 - 8 - 7 + 9 38 • 2lt 1U Wholesale automotive paper New (passenger and commercial) Used (passenger and commercial) Change from: Month " Tear ago ago — I Number of Motor Vehicles Financed by Sales Finance Companies (In thousands) Type of vehicle , July 1953 Change from: Month Year ago ago Total financed a t r e t a i l New passenger Used passenger New commercial Used commercial 529 178 313 17 21 +29 + 5 +27 - 2 - 1 + + + - Total financed a t wholesale New (passenger and commercial) Used (passenger and commercial) U13 355 58 +I4O +35 + 5 +168 +172 - U 5o 38 21 I4. 5 1/ Excludes some c r e d i t extended to business, such as c r e d i t a r i s i n g from f a c t o r i n g operations,