Full text of G.20 Sales Finance Companies : September 3, 1959

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• hv*c.„vv/??0Xqx)AED OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
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September 3 , 1959
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SALES FINANCE COMPANIES

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July 1959

Retail passenger car instalment paper held by sales
finance companies increased $179 million during July to an estimated $7,063 million at the end of the month. Holdings of other
consumer goods paper and personal loans rose to record levels.
Retail credit extended for the purchase of passenger
automobiles amounted to $747 million, representing the financing
of 175 thousand new and 251 thousand used cars. Compared with a
year ago, nearly 90 thousand more retail passenger automobile contracts were purchased.
Wholesale automotive paper outstanding increased $3 million during July and at the month-end was $570 million above a year
ago. All other types of business loans continued above a year ago.
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

July 31,
1959
9,592

+242

+ 16

+471

7,063
1,695
25
809 •

+179 - 49
+ 48 1 + 60
+ 2 + 1
+ 13 + 4

+268
+103
+ b

+ 32

-142

+833_

+
+
+

+ 2
-142
- 5
+ 3

+570
+ 30
+166

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

Increase or decrease during:
July July
Year Ended
1959 1958 July 31. 1959

550
1,394
129
878

20
3
5
14

+ 96

+ 67

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




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

, Type of credit
Consumer instalment credit
Retail automotive (passenger cars)
New
Used

Change from:
l o nth j Year
*
ago
a^o

July
1959

1,061 ' ' " 1 3
"757
- u •
m
-21
28U

+ 210
+ 209
+IFT
+ 52

+ 11
:•+
• ••. 1
3
112
0

- 21
- 1
23

•

=

&

199

Other consumer goods paper
Repair and modernization loans
Personal loans
Business credit 1/
Retail automotive (commercial vehicles)
New .
•
Used

l,U-3
62
Gi
13

' ' Wholesale automotive paper
New (passenger and commercial)
Used (passenger and commercial)

1*186.,

Wholesale.other than automotive
Other business credit 1/

;

+ 515
+ 16
+ 16
0

-U9
- 1
- 1

+ I61
4I
+151 "
l,ino
:
• P ' : - 8 ' V ' 13 • 6'
• +

'

h9
1.
16

de

- 1
- 6

1

+ 12.::
+ 23

1/ 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
Tbtal financed by retail
New passenger
Used passenger
New commercial
Used commercial
Total financed at wholesale
New (passenger and commercial)
Used (passenger and commercial)

r—

July
1959
457
175
251

18
13

525

TO

79

Change from:
Month
Year
ago
ago
-18
*0
-18
0
0
-22
-13
- 9

+ 93

+

+ 32
+ 5
0

+182
+173
+ 9

Credit Sales of New Passenger Cars as a Per Cent
of Total Number Sold at Betail l/
Credit Sales
1959 - July
June
1958 - July

Per Cent
~ W
60
71

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 25?'d. C.