FRANCE: Faurecia grows outside Europe

Faurecia's consolidated sales for the first quarter of 2008 totalled EUR3,244.8m, virtually unchanged from 2007. However, the firm reported revenue growth outside of Europe and especially in North America. 
 
Revenues increased by 28.4% in North America, with sales of EUR461.5m. This growth was driven by the ramp-up of production of the Cadillac CTS and the Chevrolet Malibu and by higher sales of the BMW X5 and X6, Faurecia said.
 
There was growth of 24.5% in South America where sales reached EUR68.6m including significant advances with PSA Peugeot-Citroën (+32%), Renault-Nissan (+27%) and Ford
(+12%).
 
Sales growth of 14.5% was reported in Asia, reaching a total of EUR174.1m, of which China accounted for 18.8% through business with Ford (+66%), Nissan (+28%) and VW (+11%).
 
In Europe, Q1 sales totalled EUR2,474.2m, a decrease of 4.2% on last year.
 
Faurecia confirmed its targets of achieving a significant improvement in its operating margin and reducing its debt in the context of the implementation of its recovery plan for 2008-2010.
From: just-auto.com editorial team

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