Avis Budget Group, Inc. (CAR) - Get Report shares rose more than five percent on Tuesday after Bloomberg reported that trade group the National Automobile Dealers Association revised its most recent used car sales figures, saying sales fell less than previously reported.

The revised report says NADA's used car priced index fell 7.6% in May to 111.1 vs. the initial release of a 10.3% drop to 107.8.

On Monday Avis said it joined the RocketSpace consortium and will work with other tech and transportation companies developing electric and autonomous vehicles and related technology.

"In support of our commitment to provide mobility solutions to customers, it is imperative that we focus on emerging technologies and do our part in setting a new standard for mobility and transportation," Avis' chief innovation officer Arthur Orduna said in a press release on Tuesday.

Website StreetInsider noted at midday Tuesday that Avis Budget Group June 24 and 25 calls are active on total call volume of 2,400 contracts (630 puts).

Avis shares added about 5 percent to $23.39. Rival Hertz Global Holdings Inc. (HTZ) - Get Report shares also rallied, adding 6.2 percent to $9.44.

Read More Trending Articles: