Ford (-3.0% vs. -0.5 est), GM (-1.9% vs. -1.0 est) and Fiat Chrysler (+0.3% vs. 1.9% est) all posted headline misses on July auto sales with a modest “beat” from Toyota (-1.4% vs -1.9% est) even though its sales were still down YoY. Looking past the headlines, however, the data is even worse. Ford sales to retail customers (i.e.