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THE YEAR OF UNINTENDED CONSEQUENCES
SCRAPPAGE HANGOVER LIKELY WORSE THAN CONSENSUS EXPECTATIONS
EU PRODUCTION TO WEAKEN SEQUENTIALLY BUT GLOBAL GROWTH PICKS UP
SCRAPPAGE AND LOAN PROGRAMMES PRESERVED EXCESS CAPACITY
CURRENCY SHIFTS PRESSURE US AND UK IMPORTS
WE FAVOUR THOSE WITH DOMINANT HOME MARKET C & D POSITIONS
SECTOR VALUATION – 2-NEUTRAL
BMW – POTENTIAL FOR FURTHER COST CUTS DRIVES 1-OVERWEIGHT RATING
DAIMLER – MARKET OVER OPTIMISTIC ON COST-CUTTING POTENTIAL
2-EQUAL WEIGHT
RENAULT – POTENTIAL FOR GREATER COMMONALITY DRIVES 1-OVERWEIGHT RATING
VOLKSWAGEN – SCALE TO WITHSTAND PRICE WARS
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European Autos & Parts 2009 Q4 Barclays

European Autos & Parts 2009 Q4 Barclays

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Published by: Alphatracker on Nov 23, 2011
Copyright:Attribution Non-commercial

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09/18/2013

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