2 automotive suppliers warn of lower profits

DETROIT (July 6)—The list of automotive suppliers putting out early profit warnings is growing, largely in part to softness in the automotive aftermarket. During the last week of June, Dana Corp. and Tenneco Automotive Inc. both said quarterly earnings would be lower than expected because of disappointing performance in the replacement market. If automotive parts makers can weather the declining market, it should rebound in the next year or two, according to the Motor Equipment Manufacturing Association in Research Triangle Park, S.C.