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

Total Vehicle Sales vs Lightweight Vehicle Sales

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Vehicle Sales Month Over Month

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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.

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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