Auto Sales Better Than Expected So Far (HMC)

October auto sales have been coming in at a better than expected rate, and analysts are increasingly hopeful for a 12 million run rate for 2010. This would mean that 12 million new cars have been sold for the year, a level the U.S. has not seen in almost 4 years. General Motors, which just recently announced the price point for its IPO, reported sales for the month of October rose 7.2%, versus the 5.2% analysts' were anticipating. These numbers include core brands, such as Chevy, Cadillac and GMC. Chrsyler just reported its October U.S. sales, and the results were also better than expected, showing a 37% increase. Analysts expected a rise of 32%. Honda HMC just reported U.S. automotive sales, which it said were up 19% in the month of October.