Household income levels fall across the U.S. due to the recession and the expected impact on the market for new cars (assuming new cars are normal goods) will be that the price and quantity of new cars sold would decrease.
Economic output, employment, and consumer spending drop by a recession. Interest rates are seemingly to say no because the central bank (the federal reserve in U.S.) cuts its benchmark rate to support the economy.
The government's deficit widens as a result of which tax revenues tail off, whereas disbursement on state insurance and different social programs rises as more individuals qualify for the advantages. New vehicle sales in the U.S. fell nearly 40 percent during the 'Great Recession' of 2008.
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