The nation’s top automakers reported disappointing sales Wednesday, resulting in the worst August for industry wide auto sales in 27 years, according to some math made by CNNMoney.com
While Cash for Clunkers skewed the year-over-year comparison, Jesse Toprak, vice president of industry trends for TrueCar.com, raised concerns that August U.S. auto sales totaled fewer than 1 million vehicles, down from slightly more than 1 million in July, when historically the two months tend to have comparable sales.
Auto sales are better this year than in 2009 but much weaker than they were before the recession. In response, Ford on Wednesday cut its fourth-quarter production plans by 4,000 vehicles according to The Associated Press.
WHAT’S NEXT: Automakers say they won’t resort to incentives to increase sales. They still expect full-year sales to modestly improve from 2009, when they were at a 30-year low.