US light vehicle sales fell by 1% in August over year ago levels. The decline was smaller than some analysts had predicted reflecting generally stepped up incentives activity in the face of concerns over underlying consumer confidence.

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Ward’s put the market at 1.47m units, 0.7% below the same month last year. Cumulative sales for the first eight months are put at a whisker under 11m units – 2.9% under the same period of last year.


It was a mixed month for Detroit. GM managed a 6% sales increase and a share increase on the back of heavy discounting on its full-size pick-ups and sales to the rental sector up 24% on last year.


But there were further declines for Ford (-14.4% on last year) and Chrysler (down 6.1%).


Among the top six manufacturers, Honda Motor Co and Nissan Motor Co Ltd posted sales gains that were accompanied by higher incentives.

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There was another monthly sales drop for Toyota, which was 2.8% off last year’s pace. Analysts said that Toyota’s decline reflected lower incentives.


GM sales analyst Paul Ballew said the U.S. economy now appeared on track for growth of less than 2% this year and only modest improvement in 2008.


“For us, it certainly constitutes a challenging backdrop,” Ballew told analysts.


Ford said its sales decline reflected a continuing strategy of throttling back on low-margin sales to rental firms. That category of Ford’s sales fell 44% in the month.


The company is offering a USD$1,000 incentives campaign on many models through September. 


Ford also said industry results were being hurt by a weaker housing market and an increased wariness about big-ticket purchases, particularly in lower income households.


“The uncertainty surrounding the current situation is quite substantial,” Ford economist Ellen Hughes-Cromwick said.