Autoliv have predicted a fall in their 4th-quarter and full-year sales as production cuts continue to bite the North American and western European automotive markets.
For the full year, Autoliv said the assumptions imply that organic sales would decline by 6% while consolidated sales would increase by only 2% compared to previous guidance of an organic sales decline of 1% and a consolidated sales increase of 8%.
For the full year, Autoliv said the assumptions imply that organic sales would decline by 6% while consolidated sales would increase by only 2% compared to previous guidance of an organic sales decline of 1% and a consolidated sales increase of 8%.
As a consequence, the previous guidance of an operating margin of 7.0% for the full year has also been revised.
In its 3rd quarter, Autoliv reported a fall in consolidated sales of 1% to $1,5m, whilst organic sales decreased by 7%. The company blamed “significant cuts in North American and West European vehicle production” for the falls.
Operating income for the quarter was $58m, operating margin 3.8%, income before taxes $47m, net income $31m.
