Global auto suppliers shift focus from Europe
May 17, 2012 | 08:46 AM
| Corinna Petry
Tags
automotive suppliers,
Magna,
Visteon,
Cummins,
Continental,
Johnson Controls,
TRW Automotive Holdings,
Tom Linebarger
auto sales
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), Europe’s 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.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here