Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Patrick Archambault - Goldman Sachs.
Patrick Archambault - Goldman Sachs
In terms of you know the overall volume, you know I think you gave it for North America and international but together on a consolidated basis sequentially what are we thinking about in terms of volume going from Q3 to Q4? And I do apologize if you guys said it and I missed it.
Darren R. Wells
Yes, Pat, this is Darren. We haven’t given specific numbers on growth from Q3 to Q4 in terms of industry volume or absolute volume. What we said is that we see recovery continuing in all of our markets. But I think we’re looking at this as being something that will see growth compared to a year ago. You know we’re confident in that but volumes generally are down in the fourth quarter from Q3. You know it’s a seasonal effect. That’s the easiest way to think about it. But we didn’t give specific numbers on it.
Patrick Archambault - Goldman Sachs
I mean I guess just to probe a little bit more on that though, I guess I mean I might have thought that just given the very weak nature of the demand, you know the end market demand in both replacement and OE and you know some of the signs that you guys mentioned you know of a decent recovery as we move forward, not only in terms of OE production but in terms of miles driven, you know all that stuff you guys cited, you know wouldn’t that have an effect of maybe trumping some of the seasonal impact? You know just given the significant dislocation of demand that you’ve seen over the last couple of quarters.
Robert J. Keegan
Pat our assessment is that that would not trump it. And remember that some of the strength that we’ve seen over the last few quarters as well is a reversal of an inventory effect. So you’ve got to factor that into this equation as well. But you know everybody ran inventories up because demand was up, and then they ran inventories down for several months. And so we factor that into this equation and you could argue we may be conservative on Q4. I don’t think we are. I think we’re accurate there. And then come 2010 we’ll start to see as I mentioned growth in all of our key market segments.
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