FRANKFURT -- Shares in Porsche rose to a 2-1/2 month high on Friday on strong North American sales last month while other European auto stocks lost ground.
"On the face of it, Porsche U.S. sales look very good and the market is reacting to that," said one Frankfurt-based analyst.
Porsche, facing declining demand for its sports cars, said it sold 47 percent more vehicles in April than a year earlier in the United States and Canada, where it sells roughly half its cars, due entirely to its new Cayenne sports utility vehicle.
The increase drops to 40 percent when U.S. figures are adjusted for the number of selling days in the month.
Porsche clocked up the biggest U.S. sales growth last month of any carmaker, although some other European players including Saab, Volvo and Land Rover also gained.