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U.S. auto sales fall in July as carmakers slash rental fleet sales

DETROIT (Reuters) - U.S. carmakers said on Tuesday they continued to slash low-margin sales to daily rental fleets in July as General Motors Co (GM.N), Ford Motor Co (F.N) and Fiat Chrysler Automobiles (FCHA.MI) (FCAU.N) struggled to curb a slide in retail sales during the month.

July is on track to be the fifth straight month in which the annual pace of car and light truck sales declined from the same month a year ago, in part because of fewer fleet sales, analysts and industry executives said. July 2016 sales hit a strong 17.9 million-vehicle pace.

GM said the seasonally adjusted annual sales rate fell to an estimated 16.9 million vehicles in July.

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