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Lb d / V U L j U ^ A . a-I 'oJurKD^X &uusferrv6tlc C&om - DER AL /-/ RESERVE s t a t i s t i c a l r e l e a s e For immediate release March 16, 1971 . ' AUTOMOBILE LOANS BY MAJOR FINANCE COMPANIES THE PROPORTION 0? NEW CAR CONTRACTS WITH 31-36 MONTH MATURITIES DECLINED SHARPLY IN JANUARY. STRIKE RELATED FACTORS HAVE DISTORTED NORMAL SEASONAL PATTERNS SINCE OCTOBER. 1968 1969 1970 i 1971 MATURITY DISTRIBUTION - NEW CAR CONTRACTS |24 months 25-30 31-36 | Over 36 j Balloon "months months months 1 paper j 7, % ; ! % % i % Seasonally adjusted January 1971 December 1970 November 1970 October 1970 • is .1 .5 .2 .7 I 2.3 16 .3 .6 .0 | 2 j Unadjusted January 1971 December 1970 January 1970 I % 1 81 86 87 85 1 i '3 i 2.9 : % 80 .i 82 •7 80 .7 0.2 0.2 0.2 0.2 1 • i ! 1 .8 0.2 °' 3 0.2 j January 1971 December 1970 November 1970 October 1970 Unadjusted January 1971 December 1970 January 19 70 1 ! ! 5. 5. : 5. 1 5 . ! 3 ; 7 1 i: i 5. 8 14.9 15.6 15.3 15 .4 13.6 16.3 15.9 j ! i ! 0.5 ! o | ; .6 ! ! i ' 1 1 1 0 J 1 ! .4 29. 30..4 30..5 29..9 100.0 100.0 100.0 100.0 0.4 0.7 0.6 ! ! i ! j i j : : MATURITY DISTRIBUTION - USED CAR CONTRACTS 19-24 | 25-30 I Over 30 | Balloon J18 months | months ! paper months [ months % 1 , % % ! % % ! Seasonally adjusted i 48.5 48.2 0. 0.: l 0..1 0. i ! i 48.1 48.4 I j i 1 1 | ' ; 100.0 100.0 100.0 Total 100.0 100.0 100.0 100.0 . 1 27. 2 27. 5 27. 9 53.4 1 49.8 % 0. i 0. 2 0. 3 ! l 49.3 1 j I Note: Details may not add to totals because of rounding and construction of seasonal factors by sector. Total ! 100.0 100.0 100.0 AUTOMOBILE LOANS BY MAJOR FINANCE COMPANIES TERMS EASED SOMEWHAT ON USED CAR LOANS AS THE PROPORTION OF CONTRACTS'WITH SHORT MATURITIES (24 MONTHS 01 LESS) FELL DURING JANUARY. 1968 -Seasonally adjusted 1969 1970 32.0 12.8 32.0 12.1 11.8 11.6 j 5.8 i 3.5 4.0 3.9 j 5 .4 j 3.4 13.1 12-6 ] ; 46.4 46.5 45.9 48.1 j j 31.9 46.3 | 31.8 46.0 January 1971 December 1970 November 1970 October 1970 I j 32.7 Unadjusted January 1971 December 1970 January 1970 1971 DISTRIBUTION OF DEALER COST RATIOS - NEW CAR CONTRACTS (loan as per cent of dealer cost) 91-100 | 101-105 j 105-110 1 Over 110 90 or Total less 7 o % % % j " X 1 j 44.5 31.7 31.9 i I 5.2 5 .7 I ° - 7 I i ! ! | loo.o ioo.o • 100.0 100.0 ! 5.3 5.7 5.7 j j 103.0 100.0 I 3.6 4.1 42 100.0 ! - ! DISTRIBUTION OF DEALER COST RATIOS - USED CAR CONTRACTS (loan as per cent of wholesale value) Over 120| 91-100 101-110 j 111-120 90 or Total % Seasonally adjusted January 1971 December 1970 November 1970 October 1970 Unadjusted January 1971 December 1970 January 1970 Note: j % % ; , j . % j 1 33.6 i x 33.3 | 23.3 j 9.6 ! j 23.0 , 23.7 23.4 : | io.I 10.5 10.3 ; I | 22.7 22.6 24.2 i 9.3 9.5 12.2 j 3i.6 ; 26.6 ' 32.2 | 27.7 , 35.1 35.1 | j 28.4 4.4 4.7 5-3 5.2 ; | ) 28.6 28.0 | : . 100.0 100.0 100.0 103.0 , • , j 29.5 I 28.6 26.2 ' j j , ! 1 4 3 ' 4.5 7.9 | | Details may not add to totals because of rounding and construction of seasonal factors by sector. 100.0 100.0 100.0 G.25 -3-. A U T O M O B I L E LOANS BY MAJOR F I N A N C E C O M P A N I E S D E A L E R C O S T R A T I O S A N D MATURITIES ON A U T O M O B I L E INSTALMENT LOANS JANUARY 1971 NEW CARS (Percentage d i s t r i b u t i o n of c o n t r a c t s ) Not seasonally adjusted Loan as per cent of dealer cost ; j 24 m o n t h s Maturities , 31-36 months 25-30 months j 90% Ol less to 1 0 3 % 1 0 1 % to 105% 106% to 110% Over 110% 91% Total ! 3.6 | j 1.4 9.9 | 2.4 0.3 0.2 | i 16.3 j j 34.8 27.0 ! | 0.1 0.1 | 10.1 | 4.9 1 I * * | 0.8 1 0.1 2.9 1 I 1 Balloon i Paper 3.3 0.6 0.1 • | Over 36 months Total ! 1 I 0.5 j ' * 80.1 46.3 31.8 0.1 1 0.2 0.6 13.1 5.3 3.6 100.0 1 USED CARS (Percentage d i s t r i b u t i o n of c o n t r a c t s ) Not seasonally adjusted L o a n as per cent ^ f of w h o l e s a l e valua 90% or less to 1 0 3 % 1 0 1 % to 1 1 0 % 1 1 1 % to 1 2 0 % Over 120% 91% To:al I i i o months *-u« j 18 i i 1 19-24 in i / . | | months 4.4 I a . 0.9 0.4 3-1 1-5 0.1 i ! j ; 5.8 ; ; o.i 0.6 0.3 13.6 Maturities ' 25-30 o c on j Over 30 months I months I ' a , !,. 8.7 6.5 2.3 : 0.9 ; 27.2 • ; : j ,| j Total * 0.1 35.1 0.1 100.0 14.3 6.3 3.0 , 53.4 Note: D e t a i l s may not add to totals because of r o u n d i n g . » Less than one-tenth of ons per cent. 14.0 15.'9 Balloon 28.6 22.7 9.3 4.3 Revised March 1971 Maturities - New Cars (Seasonally Adjusted) Percentage distribution of contracts 24 months 25-30 31-36 Over 36 or less months months months 1958 - Jan. Feb . Mar . Apr . May June July Aug . Sept . Oct . No /. Dec . 14.0 13.0 13.5 13.6 13.5 13.3 13 .0 12.9 11.7 14.1 14.1 13.4 2.6 2.6 82.3 2.6 2.5 2.6 2.5 2.6 2.5 2.2 2.5 2.5 2.6 82.8 82.6 82.8 83.2 82.9 83.1 83.3 84.3 82.1 82.4 83.2 0.4 0.4 0.4 0.4 0.4 0.5 0.4 0.5 0.4 0.4 0.5 0.3 Balloon paper 0.7 0.7 0.6 0.7 0.6 0.7 0.8 0.7 0.9 0.9 0.7 0.7 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1969 Jan. Feb. Mar . Apr . May June July Aug. Sept. Oct. Nov . • • Jan. Feb . Mar . Apr. May June July Aug. Sept. Oct. Nov. Dec . Year 1970 13.3 2.6 83.1 0.5 0.7 100.0 13.6 13.7 14.0 13.8 13.4 13.6 13.5 12.8 13.6 15.8 14.0 14.1 2.5 2.4 2.4 2.5 2.4 2.7 83.0 0.4 0.4 0.4 0.4 0.7 0.7 100.0 83.1 0.4 82.6 0.6 2.3 83.1 0.4 0.4 2.4 2.4 2.6 2.eT 2.7 80.6 13.8 Year-1968 13.9 14.3 14.2 13.8 14.0 14 .0 13 .7 13.2 12.9 11.7 10.2 11.5 13 .0 2.6 82.6 82.4 82.5 0.8 0.7 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 82.4 0.4 82.3 0.4 0.9 0.5 0.6 0.4 0.5 0.5 0.7 2.5 82.8 0.4 0.7 100.0 2.8 2.6 2 .6 2.5 2.7 82.4 82.1 82.6 0.3 0.3 0.3 0.6 100.0 100.0 100.0 83.0 0.3 82.6 2.6 82.8 0.3 0.3 2.7 2.6 2.6 2.3 2.3 2 .3 83.7 85 .6 83.7 0.4 82.9 0.4 0.4 82.9 0.3 83.4 86.1 0.3 0.3 0.2 0.2 0.2 0.5 0.3 0.3 0.4 0.4 0.5 0.6 0.3 0.5 0.6 0.7 83.9 0.3 0.5 87.7 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 . '7 ci Revised March 1971 Maturities - Used Cars (Seasonally Adjusted) Percentage distribution of contracts 18 months 19-24 25-30 Over 30 or less months months . months - Balloon paper ' Total 6.8 6.6 6.5 6.8 5.6 6.8 6.8 6.5 6.3 6.4 5.3 6.2 16 ,5 17.1 17.1 17.5 17.6 17.6 17.5 17.4 17.2 17.4 17.4 17.8 30.3 45.5 Year 1958 6.6 17.4 33.1 42.8 0.4 100.0 1959 - Jan. Feb . Mar. Apr. May June July Aug. Sept. Oct . Nov. Dec. 6.0 6.2 6.3 6.0 6.1 6.0 6.1 6.1 6.1 6.0 6.3 6.2 15.7 16.5 16.3 15.9 16.3 16.4 16.5 16.7 16.8 16.6 16.9 16.8 30.3 46.5 30.5 30.6 31.2 30.6 30.4 30.4 30.1 30.6 30.4 30.530.5 45.9 46.2 46.3 47.0 47.3 47.4 47.5 46.6 45.8 46.4 0.3 0.3 0.3 0.3 0.3 0.2 0.2 0.2 0.2 0.2 0.3 0.2 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 7.1 16.8 30.2 46.0 0.3 100.0 6.7 6.1 6.0 5.6 5.8 5.7 5.6 5.6 5.8 5.9 5.9 5.8 17.5 16.8 15.1 15.1 15.7 15.5 15.6 15.8 15.7 15.4 15.3 15.6 30.2 44.8' 30.0 46.7 29.4 48.8 0.3 0.1 0.1 0.1 0.1 0.1 0.1 100.0 100.0 100.0 100.0 100.0 100.0 100.0 30.5 48.1 30.4 '48.2 0.1 0.1 0.1 0.1 100.0 100.0 100.0 100.0 5.9 15.7 30.7 47.8 0.2 100.0 Feb . Mar . Apr. May June July Aug. Sept Oct. No J. Dec . Year 1959 1970 - Jan. Feb. Mar. Apr . May July Aug. Sept. Oct. Nov. 33.7 42.0 33.2 42.5' 33.5 42.2 33.1 42.0 33.6 41.9 41.7 33.5 33.2 42.1 33.4 42.4 33.2 31.5 43.1 44.2 30.9 44.6 30.2 47.8 48.5 30.3 48.4 30.8 48.1 30.8 31.1 48.6 45.5 31.4 48.4 29.9 48.4 0.3 0.4 0.3 0.3 0.3 0.2 0.4 0.4 0.5 0.4 0.4 0.3 0.1 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 3 . Revised March 1971 I Dealer Cost Ratios - New Cars (Loan as per cent of dealer cost) (Seasonally Adjusted) Percentage distribution of contracts 93 or less 1968 - Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. 44.0 44.6 44.5 44.4 91-100 101-105 31.3 31.7 31.7 31.8 13.6 12.9 13.0 13.2 44.9 31.5 13.3 44.7 45.1 45.1 44.2 44.1 43.8 106-110 Over 110 Total 4.5 4.5 4.4 4.4 103.0 100.0 100.0 100.0 4.1 103.0 13.0 13.1 13.1 13.2 13.5 14.2 13.4 6.3 6.3 6.1 6.2 6.2 bi1 6.1 6.0 6.1 6.2 6.0 6.2 4.3 4.1 4.3 4.3 4.4 4.2 4.2 100.0 100.0 100.0 100.0 100.0 100.0 100.0 44.3 31.9 31.6 31.5 32.2 32.1 31.9 31.9 Year 1968 44.6 31.9 13.3 6.2 4.3 103.0 1969 - Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. 44.0 44.1 43.7 43.7 31.9 31.7 32.1 31.9 32.0 31.6 31.8 31.8 30.8 13.2 13.6 13.7 13.8 13.8 14.0 13.6 13.5 13.0 14.3 13.2 13.3 6.1 6.2 6.2 6.2 6.4 6.4 6.3 6.3 6.0 5.5 5.6 5.4 4.3 4.4 4.3 4.5 4.9 4.8 4.7 4.6 4.5 4.0 4.0 3.9 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 103.0 100.0 Year 1969 Feb. Mar . Apr . May 43.2 43.4 43.8 43.9 45.8 44.0 45.4 45.6 32.6 31.8 31.8 44.2 31.9 13.6 6.1 4.4 100.0 44.6 46.1 32.0 32.3 13.4 13.0 5.6 5.2 4.0 3.6 100.0 100.0 47.0 31.3 12.9 5.2 3.5 100.0 48.1 31.4 12.5 4.8 3.2 100.0 103.0 100.0 48.5 48.5 31.3 31.4 12.2 12.2 4.8 4.8 3.1 3.1 July 48.1 31.5 12.2 5.0 3.2 100.0 Aug. Sept. Oct . Nov. 48.5 48.1 48.1 45.9 46.5 31.5 31.3 31.9 32.7 32.0 11.9 11.9 11.6 11.8 12.1 5.0 5.2 5.4 5.8 5.7 3.1 3.3 3.4 3.9 4.0 100.0 103.0 100.0 103.0 100.0 12.3 5.2 3.4 100.0 31.8 47.6 4. Revised March 1971 Dealer Cost Ratios - Used Cars (Loan as per cent of wholesale value) (Seasonally Adjusted) Percentage distribution of contracts 90 or 91- 100 1968 - Jan. Feb . Mar . Apr . May June July Aug . Sept. Oct . Nov . Dec . 28.9 28.8 27.8 26.1 26.7 26.9 26.2 26.1 24.3 25 .1 24.8 24.1 25 .2 25 .7 25 .3 24 .2 23 .8 24 .2 24 .3 23 .6 23.4 23 .3 23 .5 22 .9 101-110 25.8 25.3 25.5 25.4 25 .6 25.3 25.2 25 .4 25.3 25.2 25.6 25 .2 111-120 12.5 12.5 13 .4 14.3 14.3 13.7 13.9 14.0 14.9 15.0 14.7 15 .4 Total Over 120 • 7.5 7 .7 8 .3 9 .9 10 .3 10.0 10 .3 10 .6 11 .7 11 .9 11 .3 12 .7 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 103.0 Year 1968 26.3 24 .2 25.5 14.1 10 .2 100.0 1969 - Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec . 22.9 25.5 24.9 25.2 25.9 25.6 25.8 26.0 25.7 25.1 25.4 25.4 16.1 26.2 26.4 26.7 27.1 27 .4 27.1 27.9 22 .4 22 .6 23 .9 24 .7 25 .4 24 .7 24 .6 24 .8 25 .2 25 .1 25 .7 25 .3 25.5 13.5 13.4 13.1 12.6 12.7 13 .7 13 .4 11 .1 , 9 .2 8 .9 9 .7 9.4 9 .3 9 .0 8 .6 8 .1 8 .3 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 ' 100.0 100.0 100.0 100.0 -26.3 24, .6 25.6 13.9 9 .9 100.0 28.2 26.,2 25 . ,9 26. 3 27 .1 27 . 6 27 .4 27 .7 23. 3 24.8 25.2 24.6 12.6 12.2 11.8 11.3 10.8 10.6 10.2 10.0 8, .1 7. ,7 7.5 6..9 6. 1 5. 8 5. 6 5.3 5. 2 2 5 . 5. 3 4.7 100.0 100.0 100.0 103.0 103.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 6. 3 Year 1969 1970 - Jan. Feb. Mar . Apr . May June July Aug. Sept. Oct. Nov. Dec . 23.8 25 .1 26.5 27.8 29.2 30.2 31.5 34.3 32.4 33.1 33.2 23.8 23.5 23.9 23.6 23.4 15_.6 14.3 13.7 13.5 13.5 13.6 33.9 28.2 32.2 31.6 27. 7 26. 6 23.4 23.4 23.7 33.3 . 28.0 23.0 10.3 10.5 10.1 27. 3 24.0 . 11.0 Digitized for1970 31.8 Year FRASER 9.8 - , 103.0
