Stock market shares in tyres manufacturers have leapt up in the past few days on the back of rising US and European vehicle sales.
Shares in Michelin increased by 14.4 per cent and Continental tyres is said to have enjoyed a similar boost.
Italian tyres makers Pirelli also saw their shares rise eight per cent as investor interest creeps back into the automotive industry.
As one of the worst hit victims of the global downturn, the car market has been fighting a daily battle for survival.
But the latest figures released show that US vehicle sales jumped nearly 25 per cent last month from February.
And foreign government incentives to buy new cars are showing signs of having an effect, especially in Germany.
The interest in the automotive sector stocks in Europe and Asia really took off on April 2nd following the release of positive data.
Shares in BMW, Daimler and Renault jumped 14.5 per cent, 13.6 per cent and 12.8 per cent respectively.
Denna Bowman, Head Office