Auto-Sales Decline in August
The U.S. automakers is still dependent on pickups and sport utility vehicles and likely gave up more of their home marker again as their shrinkage eclipsed that of Japan’s car focused Toyota Motor Corp. and Honda Motor Co.. General Motors Corp. and Chrysler LLC probably led a drop in U.S. auto sales last month as new buyer incentives failed to stem an industry slide that began December.
August rate was 13 million based on a survey of analysts and economists. Offering employee discounts to all customers and no-interest loans may have kept results from falling to July’s 15-year low, when new vehicles sold at an annual rate of 12.6 million and a decline would extend the industry’s slump to nine months.
Jeff Schuster, chief of global forecasting for consumer research firm said “we would expect things to be worse for the month if it were not for the significant incentives.” General Motors the largest U.S. automaker is probably will say sales slid 29 percent and while Chrysler’s may have plunged 34 percent and Ford Motor Co.’s by 21 percent based on the 5 analysts’ estimates.
George Pipas sales analyst of Ford said “we’re in a very difficult period right now,” and also said Dearborn, Michigan-based Ford’s sale is likely to be close to July’s 15 percent decline. Automakers had to contend with the weakening U.S. economy. The Labor Department will say Sept. 5 that August non-farm payrolls fell by 75,000 jobs.





















