Full text of G.20 Sales Finance Companies : September 2, 1965

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September 2", 1965
C0KPM EES
JULY 1965

Consumer instalment credit outstanding at Sales Finance Companies
rose $193 million in July for one of the sharpest increases ever recorded for
that month. The bulk of this expansion was in retail automobile paper; it
accounted for over 60 per cent of the increase. Other consumer goods and
personal loans rose $44 million and $$0 million respectively.
New aquisitions of consumer"instalment paper were $75 million
below the June total, but above the level for July 1964. Other consumer
goods accounted for the major portion of the rise from 1964 to 1965. Repayments continued to remain at a high level.
Business credit dipped slightly, down $10 million from the previous
month. This was due to declines in wholesale automotive credit and other wholesale credit.
Outstanding Credit Held by Sales Finance Companies
(in millions of dollars)

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
factoring subsidiaries.




Increase or decrease during:
Year ended
July 31. 1965

15,565

193

9,174
4,067
15)
2,191

119
44
: 0

II

July 31,
1965

II

Type of credit

151:

1,206

,3.0

108
- 1
- 1
25

6,719

-10

-196

431

903
2,468
490
2,858

.
9
- 41
- 17
39

13
—186
- 19
- 4

48
292
43
50

433
453
- 16
336

•

• >

"72^

G.20

, -

-2-?

Credit Ixt-ended by Sales Finance Companies
(In millions of. dollars)

July
1965.

Type of credit

1.518

Consumer instalment credit
Retail automotive (passenger cars)
New
Used

'

;

Other consumer goods
Home -repair and modernization
- 'Personal loans

-IJNev '
Used
.Wholesale automotive paper
Hew /(passenger and commercial)
Used (passenger and commercial)
Wholesale other than automotive
Other business credit l/

-38

497241

- 4
- 34

336
7

- 21
- 2
- 14

25 7

- i

• Retail automotive (commercial vehicles'
i

ZJI

738

2,189

Business credit l/

Change from
Year
Month
ago
. ago-

85 ••
65
,20

-309 "

76
-11.
-

29.
-14
43
- 1
19

. 330

- -5
-

4
1

, 0
... 3
_305

1.572
1,517
.55

-245
- 10

150
--402

- 17
- 52

308
- 3
6
• 16

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




0.20

-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)

Change from
Month
Year
ago
ago

July
196$
386

-28

-5

177 '
180
19
10

0
-27
-1
0

11
-20
1

625
578
45

:

'

5

-96

106

-89
- 7

109
-3

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

Per Cent

1965 - July

^75

1965 - June

r67

1964 - July

•

75

r - revised
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.