By TOM KRISHER
AP Auto Writer
DETROIT – Companies that crank out gears, hoses, gauges and other parts for U.S. automakers are making a comeback.
Many are profitable again, and some are cautiously hiring after months of layoffs. They’ve also accomplished something that two of their biggest customers, General Motors and Chrysler, haven’t: They’ve repaid everything they borrowed from the government.
In the past two weeks, large suppliers such as Gentex Corp., BorgWarner Inc., and Federal-Mogul Corp., have reported millions in profits for the first quarter, reversing huge loses from early last year when the auto industry nearly collapsed. The revival is driven by rising auto sales and the suppliers’ own painful cuts during the recession.