Ford shares hit 52-week high as 'cash for clunkers' boosts sales

Shares of Ford Motor Co. (F) hit a fresh 52-week high today, increasing over four percent to $7.48 before retreating a little. The only Detroit car company not visiting the bankruptcy court this year and not taking government restructuring funds. Ford saw a sharp increase in sales over the past week thanks to the "cash for clunkers" incentive program.

Ford executives, who spoke to reporters at Ford's product development center, said Thursday that Ford already had a strong month before the incentive program kicked in, but they could see a definite and dramatic boost since the program started.