Ford Motor Co. shares hit their highest level in more than six years Wednesday, after the company reported stronger-than-expected October sales and showed evidence that it is seizing market share.
So far this year, Ford is No. 2 in market share and sales in the U.S. having overtaken Toyota Motor Corp. General Motors Co. is ranked No. 1 in sales and market share in the U.S. market.
Ford's stock shot to a six-year high in the minute after the automaker released better-than-expected October sales.
Shares of Ford rose as high as $15.20 Wednesday. The last time shares traded at that level was July 2004.
So far this year, Ford shares are up about 52 percent, while the S&P 500 is up 7.4 percent. American depositary receipts of Toyota are down 16 percent so far in 2010.
Ford stock closed at $15.18 Wednesday, up about 5.2 percent on the New York Stock Exchange, while the S&P 500 was about 0.4 percent lower.
In March 2009, Ford shares traded below $2.
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