Ford, GM Shares Are Surging: What's Going On?

Ford Motor Co F and General Motors Co GM shares are showing strength on Tuesday.

Shares of several companies in the auto & auto components space are trading higher amid overall market strength as stocks rise heading into earnings season.

Ford on Tuesday announced that it will report its second-quarter financial results after the market closes on July 27. GM is scheduled to report its quarterly results the day before. 

GM unveiled its new all-electric Chevy Blazer on Monday after previewing the vehicle earlier in the year. The company also announced that it was selected by the U.S. Army to provide a battery electric vehicle for analysis and demonstration. 

GM will leverage its HUMMER EV to meet the U.S. Army's requirement for a light to heavy duty battery electric vehicle to support reduced reliance on fossil fuels both in the operational and garrison environments.

In other news, Cox Automotive senior director of automotive relations Michelle Krebs told Benzinga on Tuesday that vehicle sales are unlikely to be impacted by an official recession.

Related Link: EXCLUSIVE: Michelle Krebs Of Cox Automotive Says 'If An Economic Recession Hits The US, Vehicle Sales Are Not Going To Be Affected Much'

F, GM Price Action: At time of publication, Ford was up 5.08% at $12.57 and GM was up 5.55% at $34.44.

Photos: courtesy of Ford and GM.