Carmaker Ford has reported better-than-expected results for the first quarter of 2009 and says it does not intend to take government aid.
While it still reported a loss for the quarter, of $1.4bn (£0.96bn), this was better than analysts had forecast.
The news sent Ford's shares up more than 16% in early trading.
Carmakers across the world have been struggling to cope with a massive slump in demand for cars as consumers hold back on making expensive purchases.
Two of Ford's biggest rivals, General Motors and Chrysler, have taken billions of dollars in US government aid and still face bankruptcy.
The latest results show that Ford has $21.3bn in cash and reiterate that, "based on current planning assumptions, it does not expect to seek a bridge loan from the US government".
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