Autoliv claims no decline in demand, CEO says

Article by Christian Andrei, on September 5, 2010

Car production has been slower in the second half of the year but Autoliv Inc., the world's biggest maker of airbags and seat belts, claims that it has seen no decline in demand, CEO Jan Carlson told Reuters.

Accordingly, the Swedish company has maintained its outlook for sales and operating margin for the third quarter as well as the full year.

Carlson clarified that there is no difference in the guidance the company has communicated and that they will “stick to that.”

He added that this guidance indicates that this will be Autoliv’s “best quarter ever.” In the third quarter, sales are expected to increase nearly 25% and for the full year by at least 35%.

Meanwhile, the operating margin is predicted to reach at least 10% in the quarter and over 11% for 2010.

On the Automotive News Europe list of the top 100 global suppliers, Autoliv ranks No. 28 with sales to automakers of $5.12 billion in 2009.

"There is really no difference in the guidance we have communicated, we stick to that. And according that guidance, this will be the best quarter ever for us," said Jan Carlson. [via autonews - sub. required]

Topics: ceo

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