US auto market fails to come out of skid

0 Comments | AFP, September, 2008

WASHINGTON (AFP) — Automakers saw another painful slide in US sales in August with consumers cautious amid a weak economy, monthly data showed Wednesday, raising the odds for a government aid plan for the industry.

Total new car sales amounted to 1.249 million units, or an adjusted annual pace of 13.72 million -- down a whopping 15.5 percent from a year ago, according to research firm Autodata.

The Big Three Detroit carmakers reported hefty double-digit declines from a year ago, and Japan's Toyota and Honda saw single-digit losses, while Nissan bucked the trend with an increase in sales.

The Detroit companies are preparing to launch a campaign for assistance next week, according to industry sources. The goal is to have Congress approve at least 25 billion...