Lear

Lear is the car-parts company people do not usually notice, even though its seats, wiring, and interior systems are the sort of things that make modern vehicles tolerable to sit in. By our assessment, that is where it is strongest: as a supplier to automakers, it works in the background on comfort, packaging, and electrical architecture rather than on showroom flash. The downside is the usual supplier problem — it depends on the auto cycle and on customer contracts, so its fortunes move with the industry rather than with consumer enthusiasm. In practice it is an industrial business, not a consumer brand, so its work is judged by engineers and purchasing departments more than by shoppers. Compared with a car badge, Lear sits several steps deeper in the supply chain. It is the kind of company that matters a lot to how cars feel, while most drivers never think about its name at all.