(Reuters) – Forvia on Monday reported a 2.6% year-on-year drop in third-quarter sales, citing a difficult environment.
Sales of the world’s seventh largest automotive supplier fell to 6.53 billion euros, with a drop of 13.5% recorded in China.
“In China, (…) we underperformed local automobile production during the last quarter,” said Patrick Koller, general manager of Forvia, in a press release.
“In a Chinese market that is expected to grow in 2025, we confirm that we should again outperform domestic automobile production by at least 300 basis points,” he said.
The group makes parts for Stellantis, Volkswagen and Ford, which face strikes, possible factory closures and falling demand for electric vehicles.
Forvia expects the environment to remain difficult in 2025, in particular due to automobile production in Europe still under pressure, impacted by the global economic environment and the uncertainties linked to the evolution of the engine mix.
(Written by Mara Vîlcu, with contributions from Nathan Vifflin, edited by Augustin Turpin)
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