Here are June sales for the major manufacturers in the U.S.

Ford                         -11%

GM                           -33%

Chrysler                   -42%

Toyota                     -36%

Honda                     -30%

Nissan                     -23%

Those numbers are all June 2009 over June 2008.

There had been some hope that industry sales would hit an annual rate of 10 million. The rate in May was 9.9 million. I haven’t seen it confirmed in print but CNBC announced that the annual rate was 9.6 million. If that’s correct, it represents a big disappointment.

Like other sectors, if you look real close, squint your eyes and click your heels toghether three times, you can visualize recovery. It just takes some imagination.