Auto Sales Turnaround in North America to Benefit Parts Makers
Feb. 14, 2013—Auto sales in North America are expected to remain strong in 2013, led by the U.S., according to a StockCall report.
Earlier this month, both Ford Motor Company and General Motors reported strong sales for the month of January. Ford reported its January sales rose 22 percent, while General Motors reported a 16 percent increase in auto sales in January.
The Chinese economy has also rebounded after slowing down last year, which should boost vehicle sales and benefit auto parts manufacturers, according to StockCall.
For auto parts manufacturers such as Johnson Controls Inc. and Delphi Automotive, 2013 is expected to bring long-term growth opportunities.
Johnson Controls reported revenues of $5.2 billion in the first quarter of fiscal 2013 and net sales of $10.4 billion.
While Delphi Automotive reported revenue of $3.8 billion in its fourth quarter results, down 3.4 percent from the previous year, the company expects to benefit from recent restructuring actions.
For the full reports, visit the StockCall website.