Ford stock revs up to a new highMay 28, 2013: 1:09 PM ET
Ford is in focus, and investors like what they see.
The American car manufacturer's stock rose 3% to a new 52-week high Tuesday, and is up 18% for the year.
Ford (F) recently told investors that it plans to roll out more vehicles by expanding its U.S. manufacturing capacity.
Analysts at JPMorgan (JPM) told investors Tuesday that they think the stock has room to run to $16 from a little over $15 now.
The automaker is reaping the benefit of strong North American sales. Last month, Ford said a 20% jump in sales in North America helped offset weak European sales.
In fact, auto sales have been so robust that Ford is cutting back on its usual two-week plant shutdown that usually occurs around July 4.
The maker of the Escort, the Explorer and the Fusion elicited cheers from the trading community on StockTwits for its recent run.
Maybe it should be atta boy Alan Mulally. During the CEO's tenure, Ford has gone from loss after loss to a strong string of profitability.
That remains to be seen. But it does seems like a rising economy is helping lift, maybe not all, but most car manufacturers.
Ford isn't the only carmaker soaring today. Electric car maker Tesla (TSLA) jumped more than 7%.
So far at least, investors don't think that wins for Tesla and Elon Musk translate into losses for other major car companies.