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Article: Auto stocks in 3rd qtr. go from sore to soar.(NEWS)
- Article from:
- Automotive News
- Article date:
- October 26, 2009
- Author:
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Jesse Snyder
It was a terrific quarter to own almost any automotive stock with a couple of dramatic exceptions.
All public auto retailers had a positive return in the third quarter. So did nearly all major public suppliers.
Sixteen of the 18 global automakers were up, too. But Volkswagen AG fell so much 51 percent that automakers as a group were down. And the overall figure doesn't even reflect the debacle at General Motors, where stockholders were wiped out in Bankruptcy Court.
The Automotive News/PricewaterhouseCoopers Shareholder Value Index soared more than 20 percent for retailers and suppliers in the third quarter. ...