Latest Results From Parts Makers Affected By Industry Slowdown.(Brief Article)

Another group of auto suppliers reported their financial results recently with those serving the OE segment stating that their numbers were impacted by slowing production of automakers. These companies said their quarterly results were hampered by sudden cuts in production at U.S. automakers, but the sharp pullback in inventories seen so far this year may be nearing its end.

Automotive interiors makers Johnson Controls Inc. and Lear Corp. and powertrain builder BorgWarner Inc. said their auto supply businesses were hampered during the September quarter by slowdowns in production at the Big Three U.S. automakers. Year-to-date automotive production in North America is down 11 percent from last year -- the biggest year-to-year decline registered since 1980 for the first three quarters.

And Big Three production, on which U.S. parts makers depend for their stream of revenues, is down 15 percent over the same period.

Aftermarket suppliers reported better quarter results because this sector has held up well in the slowing economy.

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