August auto sales seen down as housing woes weigh

Newswire

By Jui Chakravorty DETROIT, Aug 30 (Reuters) - U.S. auto sales are expected to have slipped about 5 percent in August, hurt by a weakening housing market, higher gas prices and mushrooming consumer debt, but helped by incentive programs. Analysts expect sales in August would have fallen further if the war on incentives had not heated up, and several forecasts expect sales for all of 2007 to fall to their lowest level in nine years. U.S. auto sales, one of the leading indicators of ...

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