US auto sales drop 4.3 percent in August

Sep 02, 2010 | 11:44 AM | Corinna Petry

Automotive sales by the top seven brands sold in the United States fell 4.3 percent in August as automakers said they expected somewhat disappointing month-on-month numbers, although year-to-date sales continued to rise.

The latest month's sales were also down 22.3 percent from August last year, although that had been the hottest month for sales under the federal government's "Cash for Clunkers" program.

Through the first eight months of the year, passenger car and light truck sales for the top seven producers rose 7.9 percent from the same 2009 period, according to an AMM analysis.

This August had one fewer selling day than August last year and three fewer selling days than July. In addition, some automakers pulled back on incentive spending last month. (Incentives are advertised discounts or rebates to lure consumers into dealerships.) September incentives are projected to be higher, as both carmakers and dealers want to sell down 2010 inventories to clear space for 2011 models.....