Automaker stocks rally in fourth quarter.(News)(Brief Article)

Byline: Sylviane de Saint-Seine

Prices of most surveyed European automotive stocks rose during the final quarter of 2003.

Led by robust Porsche and DaimlerChrysler rallies, the automaker sector gained 15.1 percent in the fourth quarter. That put it ahead of French, British and US stock indices for the same period.

Automakers are predicting a slight increase in western European new-car sales this year, after a 1.3 percent decline to 14.2 million units in 2003 in 18 western European markets. Car manufacturers hope consumer confidence will improve along with the economy.

...