According to research firm Autodata, automakers saw another painful slide in US sales in August 2008 with consumers cautious amid a weak economy, raising the odds for a government aid plan for the industry. Total new car sales in August amounted to 1.249 million units, down by 15.5% YoY.

General Motors reported August US sales slumped by 20.4% YoY to 308,817 vehicles, although it pointed out that sales were up a significant 31% from a month earlier.

Ford Motor Co’s August US sales slid 26.6% YoY, citing a weak economy and sluggish demand for large trucks and sport utility vehicles. Ford cited higher demand for fuel efficient small cars and SUVs but this was offset by other factors.

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. The goal is to have Congress approve at least USD 25 billion in loans by the end of September 2008.