Faurecia has posted third quarter consolidated sales of EUR4.08bn (US$5.3bn) up 7.9% compared to the same period last year, while product sales rose 3.2% to EUR3.2bn, like-for-like.
The French component maker says its Q3 results reflect strong sales growth in North America, up 19%; sustained business growth in Asia and South America, up 10% and a significant sales drop of 4% in Europe
Group sales growth is above automotive production in each of the main regional markets, while Faurecia claims better geographical balance with sales outside Europe reached 48% of sales in the third quarter of 2012, against 40% for the same period of 2011.
For 2012, Faurecia is predicting an increase in the slowdown of automobile production in Europe during the fourth quarter and expects a sharp sales decline, which will affect operating income.
In this context, operating income for the full year 2012 is now expected to be more than EUR500m.