Shares of Ford Motor Company (NYSE: F) were trading higher on Wednesday afternoon on signs of an accelerating recovery after U.S. auto sales totals for May turned out to be better than analysts had expected.
As of 3:15 p.m. EDT, Ford's shares were up about 5.2% from Tuesday's closing price.
While Ford no longer reports monthly sales results for the U.S., overall sales of "light vehicles" (cars, pickups, and SUVs) appear to have fallen about 30% in May from a year ago. That was less of a drop than analysts had predicted -- and an improvement over April, when U.S. auto sales were down by half.
Source Fool.com