Car parts maker Visteon Corp. on Friday reported a larger third-quarter loss as production fell at its former parent and largest customer, Ford, Reuters reported.
Car parts maker Visteon Corp. on Friday reported a larger third-quarter loss as production fell at its former parent and largest customer, Ford, Reuters reported.
Visteon reported a net loss of $US168 million, or $1.34 a share, compared with a net loss of $52 million, or 40 cents a share, in the same quarter a year ago, the news agency said.
Reuters noted that Ford, which accounts for roughly four-fifths of Visteon’s earnings, cut its North American production by 17% in the third quarter.
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