Auto Parts Stock Prices Fell An Average Of 17.9 Percent In 2002.

The auto parts stock prices tracked by The Autoparts Report dropped an average of 17.9 percent during 2002 (see table A). The decline was most pronounced among "diversified manufacturers," as the average stock price in this group plunged 24.2 percent in the 12-month period.

Original equipment suppliers as a group saw their stock prices drop an average of 15.0 percent, despite a record year for light vehicle production.

The stock prices of the six major firms making up the retail sector fell an average of 11.6 percent for the 12-month period.

The best performing auto parts sector, aftermarket suppliers, experienced a slight decline in their stock prices of 5.7 percent for 2002.

Despite the overall decline in the industry's stock prices, several companies posted extraordinary results. Among OE manufacturers, the stock price of Hastings Manufacturer, a producer of piston rings and other automotive products, soared 103.1 percent. Also in this group, Tenneco Auto, a producer of emission control and ride control products, saw its share price jump 98 percent.

The share price of R&B Inc., an aftermarket manufacturer of fasteners and service line products, climbed 43.7 percent in 2002, topping all other aftermarket producers.

The top preforming retailer, CSK Auto, posted an increase in its share price of only 10.6 percent for the year.

Gentek Inc., a maker of precision-engineered components for valve-train systems, recorded a plunge of 99.1 percent in its share price. The company filed voluntary petitions for reorganization under Chapter 11 of the United States Bankruptcy Code in 2002.

Other companies losing more than 60 percent of their stock value included "diversified manufacturer" SPX Corp. (- 72.6 percent), OE equipment makers Federal Mogul (-72.2 percent), Goodyear Tire (-71.4 percent), Amcast Industrial (-68.4 percent), Orbital Engine (-68.2 percent), and Impco Technologies (-63.0 percent).

Among retailers, Midas' share price posted the biggest decline, falling 44.1 percent.