Toyota Slump Stumps; Chrysler In Line
After "months and months" of increasing auto sales, Toyota Motor threw analysts for a loop when it posted U.S. August results, says Phil LeBeau.
The Japanese automaker reported a sales drop of 2.8 percent from the year-ago period -- a "bit of a head-scratcher" for Wall Street.
Chrysler's U.S. sales for August slipped 6.1 percent, "pretty much as expected," with analysts calling for a 6.4 percent drop.
LeBeau believes the two companies' results will contribute to an overall sales pace of 15.7 million to 15.8 million -- "not great, but not as bad as July, when the pace was 15.2 million," he says.