Visteon has posted a first-quarter net loss of US$35m compared to US$14m net income in 2019.

First-quarter 2020 net loss includes a US$33m charge the company took in respect to its recently announced restructuring programmes.

Go deeper with GlobalData

Go deeper with GlobalData

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

First-quarter 2020 net sales were US$643m, compared with US$737m in the first-quarter of 2019. The decrease of US$94m is primarily due to the impacts of COVID-19.

Gross margin for the first-quarter of 2020 was $53m, compared with $66m in the same quarter in 2019.

“Despite the challenging market environment due to COVID-19, Visteon sales outperformed the market, driven by launches of our core products,” said Visteon president and CEO, Sachin Lawande.

“The proactive cost-reduction actions we implemented, combined with our strong balance sheet and a significant cash position, will enable us to weather the crisis and emerge as a strong, more competitive company.”

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Auto Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Auto Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving automotive industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now