by Wolf Richter
Wolf Street
Ford, whose sales plunged 18%, is suddenly No. 1 for September. That’s how bad it is.
Total new vehicle sales in September dropped to 1.01 million vehicles, down 37% from 1.6 million vehicles in March, when there were still enough new vehicles to sell.
The industry-standard Seasonally Adjusted Annual Rate (SAAR) of sales – which adjusts for the number of selling days per month and for seasonal factors, and converts the monthly sales into what sales would be for an entire year – plunged for the fifth month in a row, by 29% year-over-year, to 12.2 million units SAAR, the lowest, outside of the two lockdown months, since June 2011 ,according to data from the Bureau of Economic Analysis.