Faurecia’s consolidated sales for the first quarter of 2008 totalled EUR3,244.8m, virtually unchanged from 2007. However, the firm reported revenue growth outside of Europe and especially in North America.
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Revenues increased by 28.4% in North America, with sales of EUR461.5m. This growth was driven by the ramp-up of production of the Cadillac CTS and the Chevrolet Malibu and by higher sales of the BMW X5 and X6, Faurecia said.
There was growth of 24.5% in South America where sales reached EUR68.6m including significant advances with PSA Peugeot-Citroën (+32%), Renault-Nissan (+27%) and Ford
(+12%).
Sales growth of 14.5% was reported in Asia, reaching a total of EUR174.1m, of which China accounted for 18.8% through business with Ford (+66%), Nissan (+28%) and VW (+11%).
In Europe, Q1 sales totalled EUR2,474.2m, a decrease of 4.2% on last year.
Faurecia confirmed its targets of achieving a significant improvement in its operating margin and reducing its debt in the context of the implementation of its recovery plan for 2008-2010.
