It may be the worst of times for suppliers overly dependent on the Big 3. But bargain-hunting investors have their eyes on a few sleepers - including the revamped Visteon Corp.
Lately, parts makers have underperformed both carmakers and auto retailers when it comes to returning shareholder value.
Investors have steered clear of the sector as suppliers wrestle with volatile commodity prices, demands for price cuts and uncertain production schedules.
Some have weathered the storm by focusing on advanced technologies, manufacturing in low-cost countries and doing more business with import brands.
But the group as a whole has delivered negative value for investors over the past two quarters.
Still, investors are poking around the sector - and in some cases are ready to pounce.
Brett Hoselton, an analyst with KeyBanc Capital Markets in Cleveland, points to two suppliers in particular: Lear Corp. and Gentex Corp., the Zeeland, Mich., supplier of automatic dimming mirrors.
And John Casesa, an analyst with Merrill Lynch Global Securities in New York, is talking up American Axle & Manufacturing Holdings Inc. and Visteon.
"In Visteon's case, the Ford deal is the very specific development that makes this an interesting stock," Casesa says.