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Brake on car sector takes zoom out of shares

Yvonne Ball

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Pressure on the automotive sector is growing, with Schaffer Corp and Coventry Group blaming tough market conditions for their recent share price declines.

Jittery investors, wary of brake part manufacturer Pacifica Group's recent profit downgrade and the appointment of an administrator to Ion late last year, have dumped the stocks in recent weeks, prompting a "please explain" from the Australian Stock Exchange.

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    Original URL: https://www.afr.com/companies/brake-on-car-sector-takes-zoom-out-of-shares-20050505-jkxkb