GM Posts Steep Sales Drop on Dialed-Back Discounts
- Among major automakers, only Ford beat estimates in August
- Incentives at GM declined $800 a vehicle from year-ago month
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General Motors Co.’s sales fell about 13 percent in August as the automaker pulled back on sales incentives, especially for full-size pickups, people familiar with the matter said.
The sales result, described by people who asked not to be identified because GM no longer reports them publicly every month, trailed analysts’ average estimate for a 7.7 percent drop. All major automakers except Ford Motor Co. fell short of predictions in August, as demand plunged for passenger cars including the Toyota Camry and Honda Accord.