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...
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...
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....
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...
Faurecia has posted consolidated sales for the first quarter of 2013 up 1.7% to EUR4.4bn, compared to the same period last year....
Details of concepts and new models which made their global debuts on Saturday 20 April at Auto Shanghai's media preview day....
Johnson Controls is to supply its Absorbent Glass Mat (AGM) battery technology to power the Chery Jaguar Land Rover start-stop and other vehicles made in China....
- ANALYSIS - Jaguar takes on Porsche with F-PACE
- THE WEEK THAT WAS - platforms to go to
- Peugeot steps up a gear with new 3008
- Delphi Powertrain VP on compliance - Q&A
- Geely/Volvo architecture cooperation bears fruit
- Peugeot reveals revamped 3008 compact SUV
- Tesla chooses Mando for autonomous technology
- US and UK motorists divided on driverless cars
- GKN wins plug-in AWD axle deal
- Ford recalls 271,000 F-150s for brake job