Full text of G.20 Sales Finance Companies : September 6, 1967

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FEDERAL
statistical

RESERVE

release
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sA)

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September 6, 1967
SALES FINANCE COMPANIES
\

JULY 1967

Consumer instalment-credit at sales finance companies rose $26 million
in July to a level of $16,74^7 million--somewhat less than seasonally expected.
All categories'registered gains except for other retail consumer goods which
showed a seasonal decline.
Paper acquired by sales finance companies totaled $1,223 million, a
decrease of $ 144 million from last month. Auto [credit extensions were off
considerably from June, and the only advance in credit extended was a slight rise
in the personal loan category. Repayments were lower than seasonally expected,
with all categories showing declines.
Business credit outstanding in July dropped $261 million.
gories were off, with wholesale automotive as the principal factor.
Outstanding Credit Held by Sales Finance Companies
(In millions of dollars)

Type of credit

Consumer instalment credit

A l l cate-

.

. Increase or decrease during:
July
July
Year ended
1967
1966
July 31, 1967

July 31,
. 1967

16,747

26

131

162

Retail automotive (passenger
cars)

9,252

14

62

-205

Other consumer goods
Home repair and modernization
Personal loans

4,752
108
2,635

:

9
2
19

41
1
27

7,3.55

-261 .

-148

- 12
-223
23
3

12
-176 „
- 17
33

Business credit If
Retail automotive.
(Commercial vehicles)
Wholesale automotive
Wholesale other than automotive
Other business credit

1,05.9
2,571
535
3,230

.

:
.

/

173
4
198.,

2122 L / -

32
' -345
- 61
202

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




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G.2Q

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-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.
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 1/

July
1967

Change from:
Year
Month
ago

1,223

-144

_595 :

-109

- 66

411/.
184

- 76
- 33

- 38
- 28

353
9
266

- 37
0
2

2,051

-361

91 |
|

. -_i2

70
• 21

_82

--23
- 19

-

5
1

1,362

-312

-1,313
49

-=303- 9

62
- -3

129
469

:"

-

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




5
1.
18

.

59

4
31 -

.

L

G.20

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nc,2

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

Total financed at retail
New passenger
Used passenger
New commercial
Used commercial

Change from:
Month
Year
ago
ago

July
1967

Type of vehicle

-

-

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

1

291

-51

137
127
19
y.8

-24
-20
- 5
- 2

541

-55

504
37

-48
- 7

, "37
-18
-25
6
0

;

_18
24
- 6

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

Credit Sales
1967 - July

Pet Cent
76

1967 -

70

1966 - July

81

l^/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.
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