Toyota, GM, Ford U.S. Sales Drop as Buyers Stay Home

Toyota Motor Corp., General Motors Co. and Ford Motor Co., the three largest sellers of autos in the U.S., reported bigger sales declines than analysts projected as the industry posted its worst August in 28 years.

GM said deliveries fell 25 percent to 185,176 from 246,479 last August, when the U.S. government’s “cash for clunkers” incentive program boosted sales. The biggest U.S. automaker was expected to report a 19 percent decrease, including an adjustment for the number of selling days in August, the average estimate of four analysts surveyed by Bloomberg. On that basis, sales fell 22 percent, Detroit-based GM said in a statement.