Delphi has reported a first quarter 2008 net loss of US$589m on revenues of $5.3bn. A year ago it lost $533m on revenues of $5.7bn.
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Non-GM revenue for the quarter was $3.6bn, up from $3.5bn a year ago, due mainly to favourable currency rates.
Non-GM business accounted for 69% of Q1 revenues, compared to 62% in 2007, due mainly to decreases in GM North America volume of 18% and contractual price reductions.
Included in the Q1 2008 net loss was $79m of reorganisation expenses and increased “workforce transition programme” (retirements and buyouts) charges of approximately $42m.
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