Over the past twenty years, on the bond side, the big three domestic automakers have not looked better than right now, David Albrycht, executive managing director and portfolio manager of Virtus Investment Partners, told CNBC Tuesday.
Albrycht manages over $5 billion in fixed income.
"Something I think is very, very important is that they [Ford] had seven consecutive quarters of pre-tax earnings. We think they are going to investment grade, we own it across the curve," he added.
Ford generated free cash flow from the core business, paid down $18 billion in debt, and the automaker's net cash position is about $4.7 billion right now, Albrycht said.
Separately, General Motors reported Tuesday that its sales for April in the US were up 27 percent over the same time last year—much better than forecasts predicted. Ford said its April sales were up 16.4 percent over the same time last year, which meet expectations.