Global auto suppliers shift focus from Europe
May 17, 2012 | 08:46 AM
| Corinna Petry
CHICAGO North America has emerged as a bright spot for global automotive suppliers this year, but difficulties elsewhere have them amending earlier sales and profit expectations.
Although suppliers continue to see volume and revenue expansions in North America and Brazil, Russia, India and China (BRIC nations), Europes debt burdens have put the continent on the edge of recession and lower build rates there are cutting into profits.
Revenue for a selection of the top 25 global suppliers increased, on average, by 3.8 percent for the three months ended March 31 compared with the same period last year. Of the 11 companies tracked by AMM, seven saw results improve, one recorded a net loss and two saw net income tumble. The final one did not disclose earnings results.....
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