Automobile sector up in third quarter

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These gains are well above the performance of the general stock market in the same period. In the third quarter, Continental European stock exchanges increased by 4 – 5%, and the London Stock Exchange (FTSE 100) increased by 1.8% in the UK. FCA and PSA leadership Fiat Chrysler Automobiles and PSA Group were the best-performing carmakers in the third quarter, where all the companies have grown. FCA’s growth of 64.9% was in line with the announcement of the signing of a goodwill agreement by the BMW Group in August to join the autonomous automobile alliance of Intel, Delphi and Continental. Together, these companies will create an autonomous driving platform on a global scale. The world’s seventh largest carmaker also performed well in the second quarter, benefiting from European and Latin American developments and strong performance in North America. Firman’s share value was also positively affected. CEO Sergio Marchionne signaled that they could separate the Maserati and Alfa Romeo brands along with their component operations, including Magneti Marelli.

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Analysts say such an action will be in favor of the Agnelli family and other stakeholders who control Fiat, just as it is when another luxury brand Ferrari leaves. The biggest driving force behind the rise in stock prices is speculation that Chinese investors would like to buy the full Jeep brand or company. In August, Great Wall Motor chief Wang Fengying said that the company wanted to buy Jeep and that they had contacted FCA. Although Fiat Chrysler rejects the rumors, investors say this could be a long flirtation between the companies and that other Far Eastern investors could also attract it. Another winner of the third quarter was the PSA Group. The company increased its share value by 15.4%. The Group’s strong performance was due to the acquisition of Opel and Vauxhall brands by General Motors. In the third quarter, Renault registered a 4.9% increase, while Daimler recorded a 5.9% increase. In the second quarter, many automakers performed poorly, while some saw limited growth while others were down. Faurecia’s star shines The growth of carmakers has also had a positive impact on suppliers.

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17 of Europe’s 19 largest component suppliers grew in the third quarter. Pininfarina, the Italian design and engineering firm, caught 3.1% growth, while giant French supplier Faurecia posted impressive growth of 32.1%. 9 firms recorded growth in the third quarter with two-digit figures. Faurecia is the world’s largest producer of 8th international car parts. In July, the company acquired the majority share of Chinese multimedia systems giant Jiangxi Coeagent Electronics, expanded its partnership with Dongfeng to include Clean Mobility activities, and launched a new joint venture with Liuzhou Wuling Industry to produce vehicle seats in Guangzhou. Norwegian driver controls and cable specialist Kongsberg Automotive succeeded in raising their share value by 28.3% in the third quarter. The company increased its earnings in the second quarter by 11% and its annual earnings forecast by 54%. Among the other firms that performed strongly in the third quarter were Leoni (24.7% increase in share value) and Polytec (21.7%) Austrian test equipment manufacturer.

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In the first six months of 2017, Polytec increased its earnings by 37% and its sales by 7%. There is peraklede recovery The retail sector recovered in the third quarter after the second quarter. In the sector as a whole, 9.2% decline in the second quarter was 11.1% growth. Global retailer and distributor Inchcape had a 10.9% increase in share value in the second quarter, but was able to compensate it by 15% in the third quarter. Stern Groep, the largest automobile seller in the Netherlands, closed the third quarter with a 14.6% decline, while its stock rose 28% in the second quarter. The company’s decline is based on the fact that people in the country are increasingly choosing public transport and not being seen as a necessity to buy cars. For this reason Stern Groep plans to lease and alternative mobility services rather than retail. Last Updated: November 27, 2017

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