Valeo’s Q1 sales down 1% y/y to USD5.4 billion
Company launches a program to reduce costs and capital expenditure
Valeo’s sales declined 1% year-over-year (y/y) to EUR4.84 billion (USD5.45 billion) in the first quarter ended 31 March 2019, the French automotive supplier said in a press release on 25 April. The company’s original equipment (OE) sales dropped by 1% y/y to EUR4.12 billion and accounted for 85% of its total sales in the quarter. Aftermarket sales fell 4% y/y to EUR501 million.