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.

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

Mike “Mish” Shedlock