FRANCE: Faurecia aims to double China complete seating business
Faurecia says it expects to double its share of the Chinese complete seating market, despite a slight slowdown in the country's extraordinary growth rate of late.
Despite the temporary dip in China's performance, Faurecia maintains it continues to be successful in the country as luxury and premium brands outperform the lower end of the market.
"The main drivers for the Chinese automotive market are very favourable for Faurecia," said executive vice president, strategy, Herve Guyot, at an Investor Day in London this week. "Faurecia key customers [are] maintaining their leadership in the Chinese market with local players like Geely.
"Premium and luxury cars are growing faster. We will develop business with OEMs like Geely, Chery, FAW and SAIC. Despite strong competition in China, Faurecia will double its market share at 10% in complete seating."
Faurecia has also identified commercial vehicles in China as a potential source of growth for its emissions control systems, with the country the largest destination for such brands in the world at 2.1m units.
India is also attractive for Faurecia's emissions control systems, with a market size of 350,000 commercial vehicles in 2011.
At the Investor Day, Faurecia added it was targeting EUR22bn (US$28bn) in sales by 2016, some 55% of which would be outside Europe.
Given Europe's current weakness, the supplier will focus on North America and Asia, with sales outside Europe rising from the current 37% to 55% in 2016.
Quarterly/fiscal full year results continued to roll in this week with a healthy uptick at Suzuki in 2012/3, the latest Japanese automaker to finally shrug off the combined effects of the double whamm...
Datamonitor's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organ...
This QUBE report from just-auto provides a comprehensive overview of the global heavy trucks market, major manufacturers, top markets, manufacturing trends and market size forecasts. Use this report t...
Detroit Electric, the start-up electric car maker is to partner with China's Geely Automobile to develop EVs for the Chinese market....
This report, the Global Automotive Interiors market, has been prepared based on an in-depth analysis of the market with inputs from industry experts. The report covers the North America, EMEA, APAC, a...
PSA Peugeot Citroen has posted revenue down 6.5% to EUR13bn (US$16.9bn) for the first quarter of this year, with the automotive division sales also falling 10.3% mirroring a 10% contraction in the Eur...
This QUBE report from just-auto provides a comprehensive overview of the global light vehicle OE automotive door modules sector, major suppliers, top markets, technology trends and market size forecas...
Faurecia has posted consolidated sales for the first quarter of 2013 up 1.7% to EUR4.4bn, compared to the same period last year....
- VEHICLE ANALYSIS: Porsche 911 Targa 4
- COMMENT: Foreign OEMs chose appeasement in China
- THE WEEK THAT WAS: Active safety in the spotlight
- ANALYSIS: GM gets serious about Cadillac
- Emerging markets in trouble (1)
- Volvo finally takes covers off redesigned XC90
- Bear Grylls, brand ambassador for Land Rover
- Volvo to skip all-aluminium for carbon fibre
- MOSCOW SHOW: World premieres - final list
- Lada production to be cut as sales stall
- New Engines Aiming for 60% Thermal Efficiency Japanese Automobile Manufacturers Rising to the Post-HEV Challenge
- Tesla: The Californian start-up that made head way on the automotive giants
- Jaguar Land Rover: Providing remarkable growth throughout the economic downturn
- Global light vehicle OE exhaust & emissions aftertreatment systems - forecasts to 2029
- Global Charging Equipment for EV Market 2014-2018