Car and Light Truck Sales Hit New Post Recession High
October 4, 2012
This chart shows the number of New Car and Light Trucks sold as compared to the Total Number of Nonfarm employees.September vehicle sales reached a new post-recession high and since the bottom in February 2009, sales are up at a 15% annualized pace and are up 13.5% in the past year.When car and truck sales grow at double-digit rates for over two years, this creates a positive feedback loop throughout the economy. Manufacturers, dealers, parts makers and suppliers all do better and many have to ramp up production and hire more workers in order to meet demand. More people working means more people can afford to buy new cars and trucks.
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