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\ ' \ REVISION / ' G.26 For immediate release March 15, 1973 AUTOMOBILE INSTALMENT CREDIT DEVELOPMENTS SERIES REVISIONS The automobile credit statistics published in the Federal Reserve statistical release G.26 have been revised for the period 1960-72. Revision of the not seasonally adjusted series reflects discon- tinuance for the entire period of an ad hoc adjustment designed to eliminate refinanced paper from the data on credit extensions, average note, and cars financed. In addition, the revision reflects benchmark revisions in the credit extensions data between 1965 and 1970, as discussed in the October 1972 Federal Reserve Bulletin, pages 978-81. The new seasonally adjusted series for credit extensions incorporates, for the first time, an adjustment for the varying number of working or trading days each month. The X-ll variant of the Census Bureau's Method II Seasonal Adjustment Program has been used to adjust for trading day as w e l l as seasonal influences. Related automobile credit data are published in the Federal Reserve statistical releases G.19 (volume of credit outstanding, extended, and repaid at all lenders), G.18 (credit outstanding and extended at commercial banks), G.20 (credit outstanding, extended, and repaid at finance companies), and G.25 loans at finance companies). (maturity and dealer cost ratios on auto Finance rate data are published in releases G.10 (commercial banks) and G.ll (finance companies). Copies of these releases may be obtained from the Publications Section, Division of Administrative Services, Board of Governors of the Federal Reserve System, Washington, D . C . 20551. ..••ofcow-V.. FEDERAL RESERVE stat istical release For immediate release March 15, 1973 G.26 AUTOMOBILE iINSTALMENT. All lenders -'DEVELOPMENTS -JANUARY 1973 Bank direct loans - Bank purchased Finance Other lenders Seasonally Adjusted Extensions ($ millions): January 1973 December 1972 January 1972 2,610 2,489 1,981 633 588 458 ,027 963 753 588 585 472 362 353 298 3,551 3,501 3,302 3,503 3,410 3,253 3,439 3,457 3,234 3,829 3,802 3,601 3,589 3,315 3,133 735 711 600 181 172 141 299 279 233 154 154 131 101 106 95 Average note (Dollars): January 1973 December 1972 January 1972 Cars financed (000): January 1973 December 1972 January 1972 Not Seasonally Adjusted Extensions ($ millions): January 1973 December 1972 January 1972 262 316 2,092 2,070 1,469 523 498 346 835 761 571 472 495 352 200 3,552 3,557 3,309 3,510 3,486 3,262 3,408 3,529 3,208 3,837 3,843 3,612 3,639 3,362 3,175 589 582 444 149 143 106 245 216 178 123 129 97 63 Average note (Dollars): January 1973 December 1972 January 1972 Cars financed (000): January 1973 December 1972 January 1972 72 23%-, G.26 -2AUTOMDBILE INSTALMENT CREDIT DEVELOPMENTS-JANUARY 1973 USED CARS All lenders direct^. Bank purchased paper Finance Other lenders Seasonally Adjusted Extensions ($ millions): January 1973 December 1972 January 1972 1,379 1,328 1,165 383 374 306 491 467 382 249 228 235 256 259 242 1,973 1,900 1,795 1,953 1,888 1,778 2,046 2,003 1,880 2,001 1,917 1,825 1,838 1,738 1,665 699 699 649 196 198 172 240 233 203 124 119 129 139 149 145 Average note (Dollars): January 1973 December 1972 January 1972 Cars financed (000): January 1973 December 1972 January 1972 Not Seasonally Adjusted Extensions ($ millions): January 1973 December 1972 January 1972 1,302 1,143 1,030 385 323 288 475 388 346 227 200 203 215 232 193 2,012 1,918 1,833 1,974 1,891 1,798 2,093 2,031 1,923 2,045 1,937 1,865 1,886 1,771 1,708 647 596 562 195 171 160 227 191 180 111 103 109 114 131 113 Average note (Dollars) January 1973 December 1972 January 1972 Cars financed (000): January 1973 December 1972 January 1972
@FedFRASER