Full text of G.20 Sales Finance Companies : September 2, 1955

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BOARD OF GOVERNORS OF THE FEDERAL .RESERVE SYSTEM
September 2, 1955

G.20
SALES FINANCE COMPANIES
JULY i?55

Passenger car instalment paper held by sales finance
companies increased further during July, Balances outstanding at
the end of the month, estimated at 7>180 million dollars, were
323 million above the preceding month and 1,809 million above a
year ago. Total consumer instalment credit held by sales finance
companies amounted to an estimated 8,087 million dollars at the
end of July, 3UO million above a month ago and 1,898 million
above a year earlier*
Credit extended on passenger cars during July was estimated at 8?6 million dollars, and represented the financing of
268 thousand new cars and 2p6 thousand used cars by sales finance
companies. The dollar volume of financing was 76 million below
June's record figure, but was 2$0 million above July a year ago.
Wholesale automotive paper outstanding amounted to an
estimated 1,291 million dollars at the end of the month, about the
same as a month ago. Wholesale paper other than automotive
decreased, while other types of business credit increased.

Outstanding Credit Held by Sales Finance Companies
(In millions of dollars)
Type of credit

July 30,
1955

Increase or decrease during:
Year ended
July July
July 30, 1 9 #
19#
195U

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

+1,898
+1,809
+
37
k

Business credit 1/
Retail automotive (commercial vehicles)
Wholesale automotive
Wholesale other than automotive
Other business credit

+ U70
+
25
+ !tl6
+
18
+
11

+

$6

1/ Excludes some credit extended to business, such as credit arising from
factoring operations.



G.20

- 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 1/

987

rJ2

+260

876
593
283

- 76
- 35

+250
+230
+ 20

h3

6
62

1,230

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:
Month
Year
ago
ago

July
1955

h2

31
11
1,083
1,03k

, 49
22
83

-

hi

0
0

;

-

3

+

h

+
+

1
5

- 68

+lqo

-

9
6
3

+ 10
+ 10
0

- 57
- 52
- 5

+397
+388
+ 9

+

+
-

3
1

h

1

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
1955
6oi
268
296
20
17
183
hh3
ho

Change from:
Year
Month
ago
ago
- 6h

- m
- uu
2
-

h

- 21
- 18
- 3

+112
+ 85
+ 20
+ 5
+ 2
+lh9

+II46
+ 3

1/ Excludes some credit extended to business, such as: credit arising
from factoring operations •»