Big N.A. suppliers head into the red

In the third quarter, profits evaporated at North America's largest suppliers.

As a group, the nine largest North American suppliers lost $1.52 billion, compared with a net profit of $624.7 million a year earlier.

The number is an estimate, and here's where it comes from: Take the top 25 suppliers to automakers in North America. Eliminate those that aren't publicly traded, sell mainly to heavy-duty truck makers, or have not yet reported results. Then eliminate those headquartered outside of North America because they get most of their profits from overseas.

That leaves nine companies: Magna International Inc., Johnson Controls Inc., Lear Corp., Dana Holding Corp., TRW Automotive Inc., Visteon Corp., American Axle & Manufacturing Holdings Inc., Tenneco Inc. and BorgWarner Inc.

Only one of them made money last quarter: Johnson Controls.

You can reach James B. Treece at jtreece@crain.com
Tags: Suppliers

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