No reprieve for August auto sales

NEW YORK, Sept. 3 (UPI) -- A respite from record high gasoline prices failed to revive U.S. auto sales in August, automakers said Wednesday.

General Motors Corp. said its sales were down 20 percent from the same month last year, though August was its best month this year, CNNMoney reported. GM moved 307,285 vehicles off its lots using an "employee pricing" promotion that has been extended into September.

Ford said its domestic sales fell 27 percent compared to August 2007, while Toyota experienced a 9 percent drop.

Weakness in sales of pickup trucks, sports utility vehicles and vans hurt all of the Big Three automakers.

Ford said it expects even tougher sledding through the remainder of the year.

"We expect the second half of 2008 will be more challenging than the first half, as weak economic conditions and the consumer credit crunch continues," said Jim Farley, Ford's group vice president of marketing and communications.

Auto sales experts said there are indications the market bottom may be approaching.

"There's no question there's been some signs of stability," said Tom Libby, senior director of industry analysis for J.D. Power & Associates. "Whether it's artificial because of incentives, we can't tell."