Full text of G.20 Sales Finance Companies : September 6, 1966

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FEDERAL
statistical

RESERVE

release

G.fD

September '6, 1966.
2SALES

!

jpmQcE
i
COMPANIES
JULY 1966

V

— - C o n s u m e r — i n s t a l m e n t credit "qxitrstandingr at sales finance companies
rose $131 million above the June level. All types of credit contributed to
this greater than seasonal increase.
Total consumer instalment paper acquired during July showed a
greater than seasonal decline of $118 million. Retail auto paper accounted for
$62 million of this decrease.
. Business credit outstanding dipped $148 million in July. Model changeover contributed to the $176 million drop in the wholesale automotive category,
the first such decline since September 1965. All categories of business credit
contributed to the $480 million decline in business extensions.
Outstanding Credit Held by Sales Finance Companies
(In millions of dollars)

Type of credit

Consumer instalment credit
Retail automotive (passenger cars)
Other consumer goods
Home repair and modernization
Personal loans
Business credit \J
Retail automotive
(commercial vehicles)
Wholesale automotive
Wholesale other than automotive
Other business credit

July 31;
1966

Increase or decrease during:
Year ended
July
July 31, 1966
1965

16,585

131

193

U020

9,457
. 4,579
112
2,437

62
41
1
27

119
44
0
30

283
512
-21
246 ^

7.567

-148

1,027
2,916
596
3,028

12
-176
- 17
33

_848

.
9
- 41
- 17
39

-

124
448
106
170

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




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

. July1966

Type of credit

Consumer instalment credit

Change from:
Month
ago

1,265

-118

' 449
' 212

-43
- 37

R.etaTT --au tomo t ive (passenger cars)
-

.
-

New .
Used

. -

,

Other consumer goods
Home repair and modernization
Personal loans
Business credit'. 1/
Retail automotive (commercial vehicles)
New
Used

"

Wholesale automotive paper
New. (passenger and commercial)
Used (passenger and commercial)
Wholesale other than automotive
Other business credit V
= 1/ Excludes some credit extended to business
factoring subsidiaries.




348
8
248

- 25
1
- 14

1,969

-480

95

---15

75 '
20,

- 12
- 3

1.,303
1 ;,251
52
133
438

-397
- 7
-

is

- 35

such as that extended by

G.20

-3Number of Motor Vehicles Financed by Sales Finance Companies
(In thousands)

- Change from:
Month
Year
ago
ago

July
1966

Type of vehicle

Total financed at retail

323

- 44

- 58

New passenger
Used passenger
„ New commercial
Used commercial

155
152
13
8

- 16
- 24
- 4
0

- 22
- 28 '
- 6
2

Total financed at wholesale
New (passenger and commercial)
Used (passenger and commercial)

523

-141

-100

480
43

-137
- 4

- 98
" .2

~

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

Credit Sales

Per Cent

1966 - July

82
r?

1966 - June
1965 - July

" '

.

.

6

. 77

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.
r - Revised.