Car stocks under pressure as Iraq war looms.(News: securities)

Automotive News Europe,  January, 2003  by d

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Byline: Sylviane de Saint-Seine Automotive News Europe

Investors no longer see the auto industry as a safe haven from volatile "new economy" stocks. They are also focusing on negative news, such as the prospect of war in Iraq.

As a result, most auto manufacturers, suppliers and retailers are underperforming other sectors in the stock market.

Suppliers managed a tiny 0.9 percent gain in shareholder value last quarter, but retailers and carmakers fell. The DAX, Dow and FTSE indices all rose.

For retailers, investors are making a sober assessment of the impact of ...

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