Vehicle Sales Plunge by 5.5 Million Units, Most Since 1987
Mike Mish Shedlock | Apr 03, 2020 04:48PM ET
The 1987 stat is somewhat misleading because it was preceded by unprecedented surges.
Total Vehicle Sales vs Lightweight Vehicle Sales
Vehicle Sales Month Over Month
On a month-over-month basis, sales fell 32.15%. On a percentage basis, this is more than 987 but less than the 35.37% decline in September 2009.
There is no reason to expect a huge rebound in sales.
Incomes and savings have been clobbered by layoffs that have just started.
As noted earlier day, Unemployment Rate Jumps to 4.4% But Worst is Yet to Come
I expect the unemployment rate to hit at least 12% in April and more likely something close to 20%.
A deep recession is coming up.
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