Stronger-than-expected sales were a stock price stimulant for shareholder value for most of the publicly traded companies in the auto industry in the first quarter.
All but six of the 58 companies on the Automotive News/PricewaterhouseCoopers Total Shareholder Return Index posted positive returns for the first three months of 2002. Automakers, suppliers and retailers posted double-digit improvements on average for the second straight quarter, the first time that has happened since Automotive News and PricewaterhouseCoopers began tracking quarterly shareholder value at the beginning of 2000.
It's only the third time all three groups have produced positive returns for a single quarter. Suppliers led the industry during the quarter, but retailers continue to show the sharpest improvement over the one-year and three-year periods. All three beat the Dow Jones industrial average, Standard & Poor's 500 Composite Index and the FTSE 100 index for the quarter.