Could be Worse!

Greece has been in recession since Q3 ‘08. During that time, new car registrations have fallen 82%, back to where they were in the late ‘80s, and GDP has fallen 18%. Here, at their worst, car sales were down 56% and now are now down just 18% from where they were before the recession. At its worst, US GDP was down 5% and is now 2% above the prior peak.