First quarter 2023 revenue at supplier Aptiv rose 15% year on year to US$4.8bn, reflecting, the company said, growth of 24% in Europe, 14% in North America, 7% in Asia, which includes an increase of 2% in China, and 11% in South America.

Net income of $146m and earnings of $0.54 per share compared to $73m and $0.27 in Q1 2022.

Adjusted net income of $258m and $0.91 per share compared to $180m and $0.63.

Adjusted operating income was $437m versus $324m.

Adjusted operating margin was 9.1% versus 7.8% reflecting revenue growth over market of 6%, increased global vehicle production, pricing and the results from recent acquisitions.

“We had a strong start to the year with record revenue and near-record bookings in the first quarter,” said Kevin Clark, chairman and chief executive officer.

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“Bolstered by our recent acquisitions of Wind River and Intercable Automotive, we continue to gain commercial traction across our portfolio, particularly in our Smart Vehicle Architecture and high voltage platforms. We remain confident in our ability to deliver on our outlook for 2023.”