On Tuesday major auto manufacturers indicated that their October sales rebounded significantly following a weak September.
The increase to the US annualized sales rate was nearly 20 percent better than September's measure. Early estimates show the bump adding $5 billion, or roughly 1.5% to October's retail sales numbers versus September's readings.
It now appears as though consumers no longer needed cash-for-clunker rebates to commit to new auto acquisitions in October.
GM, Ford and Nissan all reported that their sales are now up from a year ago.
Jessica Caldwell, senior analyst at auto industry tracker Edmunds.com said, "We are trending in the right direction," and "it should be easier for auto companies to report year-over-year growth from this point on."
Ford -- which reported a strong profit on Monday -- claims that increased production in October will help to replenish diminished supplies on dealer lots. Further, Ford sales management points to strong restocking demand through the end of 2009.
When all you read is gloom, turn here for a much different perspective.