Auto and light trucks sales rose from 11.76 million to 12.26 million in October, a 4.25% gain.
Since the bottom auto sales have been rising at a 10% to 12% annual rate — depending on if you calculate the trend as a linear or an exponential trend and October sales were right on this trend line.
The biggest impact of the auto bailout was to force GM to reduce its capacity to a level where it could be profitable with domestic auto sales of around 10 to 12 million — this figure used to be 16 million. Moreover, Ford has managed the same cut in capacity. So at this level of sales and profits GM should be able to manage its stock offering with no major problems.