The 1987 stat is somewhat misleading because it was preceded by unprecedented surges.

Total Vehicle Sales vs Lightweight Vehicle Sales

Image placeholder title

Vehicle Sales Month Over Month

Image placeholder title

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.

For discussion, please see Covid-19 Recession Will Be Deeper Than the Great Financial Crisis

Mike “Mish” Shedlock

New Home Sales Sink 1.7% to 627,000 Units: Builder Spec Homes Most Since 2009

New home sales in July were 627,000 units SAAR. Economists expected a rebound in new home sales to 649,000 from 631,000.

UK Retail Sales Plunge Most Since March of 2009

Additional cracks are starting to appear in the global economy. In the UK, retail sales plunged the most in eight years. Consumers are also becoming worried about falling house prices. I propose consumers should have been worried that home prices would tank long ago.

Motor Vehicles Sales Dive in January, Light Trucks Down 7.8%

The BEA released two motor vehicle sales reports today, one for December and one for January. The latter was a bust.

Luxury Homes Sales Decline Most Since 2010 As Supply Soars

Supply of luxury $2.0 million homes is up four consecutive quarters but sales are down 16%, the most since 2010.

Job Openings Decline 7.8%, Most Since 2015

Job Openings fell by 538,000 to 7.1 million.

Existing Home Sales Plunge 3.2%: Worst January Since 1999

Economists expected last year's strength to continue. It petered out in December and the floor fell out in January.

New Home Sales Beat Expectations, Up Most Since November 2017

New home sales are up thanks to builder discounts and falling mortgage rates.

Used Car Prices Plunge Most in Any Month Since 2008, Only 2nd February Decline in 20 Years

According to NADA Used Car Guide, wholesale prices on used vehicles are getting crushed. Let’s take a look at the details.

GDP Estimates Plunge on Retail Sales Data

In the wake of unexpectedly grim retail sales data, Fourth-Quarter GDP estimates have plunged.