Suppliers and retailers made gains in the first quarter while automakers slipped into negative territory. The shareholder value for European partsmakers increased 8.1 percent; retailers rose 7.8 percent and automakers declined 3.4 percent in the quarter, according to the Automotive News Europe/PricewaterhouseCoopers Transaction Services Shareholder Value Index.
All three automotive stock groups were beaten in Q1 by the S&P 500 -- up 11.7 percent -- and the Dow Jones Industrial Index, which rose 10.3 percent. Auto stocks outperformed Germany's DAX 30, the UK's FTSE 100 and France's CAC 40.
“The strong performance in Q1 was underpinned by the success of scrappage schemes across Europe. It will be interesting to see how strategies such as the Renault-Nissan-Daimler alliance will fare in generating ongoing value for shareholders in the remainder of 2010,” said Jason Wakelam, leader of PwC UK's Automotive Transaction Services.