The second quarter was very good to dealers and suppliers and pretty good for automakers, too. The shareholder value for European dealers increased 84.8 percent while suppliers rose 78.7 percent and automakers made an 18 percent gain in the quarter, according to the Automotive News Europe/PricewaterhouseCoopers Transaction Services Shareholder Value Index.
For suppliers and automakers, the increases marked a major shift from the first three months of the year when partsmakers were down 30.89 percent and car manufacturers slipped 10.56 percent.
The big second-quarter gains helped suppliers and retailers easily outperform the major equity indices in Europe. The STOXX index and the U.K.'s FTSE 100 each rose 19 percent in the quarter while Germany's DAX climbed 17.7 percent and France's CAC was up 15.6 percent.
"The European automotive market continues to be tough. The gains in the second quarter of 2009 for suppliers and automakers come off the back of a dire first quarter, which was impacted by manufacturer plant closures and their knock-on impact on parts suppliers," said Chris Kent, PwC director in transaction services for the automotive sector. "Performance for both manufacturers and suppliers remains significantly below the levels experienced a year ago. For dealers the tentative recovery in, particularly, used car performance in Q1 2009 (after unprecented turbulence in the second half of 2008) was sustained into Q2 and reflected in the indices."