UPDATE 3-GM gains, Ford clobbered in U.S. Sept sales

(Adds background on Toyota)

By Kevin Krolicki

DETROIT, Oct 2 (Reuters) - General Motors Corp (GM.N: Quote, Profile, Research, Stock Buzz) gained ground on its rivals with a 4 percent rise in U.S. sales last month, but Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz) sales slumped 18 percent and sales at Toyota Motor Corp (7203.T: Quote, Profile, Research, Stock Buzz) dipped 1 percent for a third monthly decline.

Overall U.S. September auto sales steadied after adjusting for the number of sales days, bucking Wall Street expectations for a decline in the closely watched indicator of consumer demand, sales results released on Tuesday showed.

The adjusted 1 percent year-on-year gain in industry-wide sales came despite a housing downturn and tighter credit blamed for driving lower income buyers out of the market for new cars.

"It's very difficult out there for a lot of families," said Aaron Bragman, an analyst with industry tracker Global Insight. "You've got high gas prices. You've the risk of foreclosures."

Led by GM, major automakers with newer products on offer did well despite the weaker economy.

Honda Motor Co (7267.T: Quote, Profile, Research, Stock Buzz) posted a near-14 percent gain boosted by the launch of its new Accord sedan. Sales at Nissan Motor Co (7201.T: Quote, Profile, Research, Stock Buzz) rose 11 percent, driven in part by gains for the Altima Coupe in its third month on the market.

A year ago, Honda's sales had slipped 8 percent, while Nissan's September 2006 sales had dropped 9 percent.