The logo of Forvia is seen on the company’s building in Nanterre near Paris, France, October 16, 2024. REUTERS
April 24 (Reuters) – French car parts supplier Forvia on Friday reported a 2.2% drop in its first-quarter sales, excluding currency effects, impacted by a decline in China.
Quarterly sales fell to 5.14 billion euros ($6.00 billion) from 5.49 billion euros in the same period last year.
The group reported growth in all of its regions except China, where sales were down 23.5% from last year, excluding the effects of currency exchange rates.
Forvia was impacted by an unfavourable customer mix in China, with a significant drop in production at automaker BYD, it said.
It still outperformed the 3.4% decline seen in global automotive production, according to S&P Global Mobility forecasts published this month.
“At the same time, we have continued to make progress on the planned divestiture of our Interiors business, which we expect to materialize in the near term,” CEO Martin Fischer said in a press release.
The company also confirmed its guidance for 2026.
($1 = 0.8563 euros)
Reporting by Mathias de Rozario in Gdansk, editing by Milla Nissi-Prussak