The sales of light vehicles dropped from 16.1 million vehicles in 2007 to 13.2 million vehicles in 2008. Light vehicle sales haven't dropped off that sharply in one year since 1974, when sales fell by 3 million vehicles from the 1973 sales level. Though the sales decline in the early 1980's was large, the decline was spread over several years. Historically, light vehicle sales rebounded quickly after these sharp declines.

Light Vehicle Sales, 1970-2008
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Supporting Information

Light Vehicle Sales, 1970-2008
YearSales (Millions)
19709.9
197112.0
197213.2
197314.2
197411.2
197510.9
197613.1
197714.6
197815.1
197914.0
198011.4
198110.7
198210.4
198312.1
198414.2
198515.4
198616.0
198714.8
198815.3
198914.4
199013.9
199112.3
199212.8
199313.9
199415.0
199514.7
199615.0
199715.1
199815.4
199916.8
200017.2
200117.1
200216.8
200316.5
200416.9
200517.0
200616.5
200716.1
200813.2

Source: Ward's Automotive Group, Ward's Motor Vehicle Facts & Figures 2009.

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