Valeo has recorded first-quarter total sales up 8% to EUR4.67bn (US$5.7bn), while the supplier says it expects a “strong outperformance” in Q2, 2021, compared to 2019 and 2020.

“First of all, I would like to thank our teams for their commitment, which enabled us to fulfil all customer orders in a period marked by a shortage of electronic components,” said Valeo chairman and CEO, Jacques Aschenbroich.

“In the first quarter, Valeo delivered a very strong outperformance in all regions worldwide and in all businesses compared to 2019.

“This outperformance will continue in the second quarter. It clearly shows that, despite the semiconductor supply crisis, Valeo has confirmed its potential to deliver solid, market-beating growth.

“This performance is testament to the Group’s unique positioning in electrification and ADAS, with high value-added technologies that bring it commercial success and strengthen its growth potential.”