Veoneer’s Q1 sales declines 26.7% y/y to USD362 million
Company withdraws organic sales outlook for FY 2020 but expects to outperform the global light vehicle production, primarily driven by new program launches
Veoneer has reported 26.7% y/y decline in net sales to USD362 million in the first quarter ended 31 March 2020, the company said in a press release on 24 April. The company’s organic sales dropped 15% as compared to a 24% decline in the global light vehicle production. The divesture of VNBS operations in Asia affected sales by 10%, while unfavorable currency translation impacted sales by 2%.
Thank you for visiting S&P Global AutoTechInsight.
*A subscription to News & Analysis includes four S&P Global-selected sector-specific analytical pieces per month. Access to all analytic pieces across all domains comes with a subscription to All Domains. Please click here to subscribe.
To get access to the AutoTechInsight full suite of services, please contact a sales representative by clicking here.
Already a subscriber? Please log in here
