The changing landscape of the automotive interiors industry
While suppliers such as Johnson Controls and Visteon are exiting vehicle interiors as revenues fall, others like Faurecia are still investing aggressively to develop new products for the segment
This year, two leading North American suppliers, Johnson Controls (JCI) and Visteon, took steps to exit their vehicle interiors business. JCI entered into an agreement with China-based Yanfeng Automotive Trims Systems to merge most of assets of their interior business via a joint-venture, in which Yanfeng will own a majority stake. And Visteon agreed to divest the majority of its automotive interiors business to an affiliate of Cerberus Capital Management.