Business Services Industry
Suppliers end 2000 out of gas; Record sales year can't save 4th quarter.(Brief Article)(Statistical Data Included)
Crain's Detroit Business, January, 2001 by Strong, Michael
Sluggish car and heavy-truck sales leading to production cutbacks put a financial whammy on automotive suppliers in the fourth quarter. Even a record automotive sales year of nearly 18 million units did not allow suppliers to squeak out an earnings increase as the year ended. The record was set mostly during the first half of last year, while slow sales in the second half nearly wiped out the first half's sales.
Troy-based Delphi Automotive Systems Corp. (NYSE: DPH) posted net income of $200 million on $6.9 billion in revenue during the quarter, which was down from year-ago figures of $269 million in net income on $7.25 billion in revenue. The company's revenue for the year also was down slightly, $29.139 billion this year against $29.192 billion in 1999....
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