Autoliv, the world’s biggest maker of airbags and seat belts, sees car production in the second quarter somewhat lower than previously expected, the firm’s top executive told Reuters.
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“In general terms one can say that production volumes in Europe are a bit lower than we had expected after the first quarter,” CEO Lars Westerberg said on the sidelines of a capital market day in Istanbul, adding: “And chances are it will be the same story in the United States.”
In April, Autoliv reportedly said it expected light vehicle production to increase by less than 1% in Europe and decline by 2% in North America in the second quarter.
Westerberg told Reuters that while volumes were likely to be somewhat weaker than expected in the current quarter, production is likely to strengthen slightly during the rest of the year.
“The development in the US and Europe, as well as Japan, is pretty much at a standstill but, if we add the rest of the world, for instance Korea, we’re still talking about an increase of about 3% for the full year,” he told the news agency.
Reuters noted that Autoliv in April forecast that second quarter sales would rise 10% assuming that the dollar stood at the same level versus the Swedish crown as in the previous quarter.
