Led by Italy's Fiat S.p.A. and Pininfarina S.p.A. as well as Germany's BMW AG, automakers and suppliers made double-digit shareholder value gains in the third quarter. The overall value for shareholders in European automakers increased 18.1 percent; partsmakers rose 22.8 percent and retailers edged up 3.1 percent in the July-September period, according to the Automotive News Europe/PricewaterhouseCoopers Transaction Services Shareholder Value Index. The partsmakers's and car manufacturers' stock groups easily outperformed the Q3 results from all the major European indices. The retailers' group beat the S&P 500, which was down 0.1 percent, and the Dow Jones Industrial Index, which slipped 0.9 percent.
"The continuation of positive shareholder gains in the first half of 2010 into Q3 is encouraging and demonstrates the benefits of significant financial and operational restructuring actions taken during the recession," said Jason Wakelam, leader of PwC UK's Automotive Transaction Services. "The auto industry, however, still faces some key challenges."