Autoliv, the Swedish manufacturer of car safety equipment including seatbelts and airbags, is forecasting that third quarter sales will be around 6% up with annual sales finishing some 4% higher than last year. The forecast is at the top end of its previous estimate of annual growth of between 2-4%.
The upbeat forecast came as the company reported Q2 pretax profits of US$193m compared to US$182m a year earlier and above the mean forecast of US$176m in a Reuters poll of analysts.
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The company said in a statement car production in Europe, which accounts for more than 30% of its sales, grew unexpectedly in the second quarter. Other key markets including the Americas, China and Japan, also performed better than forecast.
