Shares of auto parts makers like BorgWarner Inc. (BWA - Get Report) , Tenneco Inc. (TEN - Get Report) , and Lear Corp. (LEA - Get Report) were declining Tuesday as dismal auto sales data in July impacted the entire industry.
Fiat Chrysler Automobiles (FCAU - Get Report) reported a 10.48% decline in July unit sales vs. the market's expectations of a 7% drop. Ford Motor Co. (F - Get Report) reported a 1% decline in retail sales and General Motors Co. (GM - Get Report) reported a 15.4% decline in unit sales vs. analysts' 9.1% decline expectations.
As a result, Lear shares were down 2.5% to $144.46, Tenneco was falling 2.3% to $54 and BorgWarner was down 2.95% to $45.36 per share in morning trading.
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