Valeo cuts sales guidance again as Europe's car woes worsen
Recasts headline and paragraph 1, adds 2025 outlook and quote in paragraphs 2-3
By Andrey Sychev
Oct 24 (Reuters) -French automotive supplier Valeo VLOF.PA on Thursday cut its annual sales guidance for the second time this year, reflecting how hard the European auto sector is being hit by the weakening Chinese economy and uncertainty over the shift to electric cars.
Valeo is cautious about the next year as it sees a weaker global economy, including in China, persisting, but also new environmental regulations to add pressure on carmakers, which could together trigger further product launch delays.
"We see a market that is softer than anticipated, roughly in all geographical areas, for different reasons," CEO Christophe Perillat said on a media call.
Europe's auto sector faces multiple challenges ranging from high production costs and managing the shift to electric vehicles to falling demand and rising competition from China.
Valeo now sees 2024 sales at 21.3 billion euros ($23 billion) versus 22 billion euros previously, while it maintained its margin and free cash flow guidance for the year.
Sales fell by 5% to 5 billion euros in July-September, while analysts expected 5.1 billion in a company-compiled consensus.
Valeo, which designs and produces components and integrated systems for vehicles, including electric ones (EVs), said delays in product launches by customers as well as uncertainty around EV adoption hit global automotive production.
French peer Forvia FRVIA.PA reported falling third-quarter sales weighed down by weaker demand from China and increasing competition from local producers there.
($1 = 0.9260 euros)
Reporting by Andrey Sychev, additional reporting by Etienne Breban; Editing by Andrew Heavens and David Evans
Aloqador aktivlar
Eng oxirgi yangiliklar
Javobgarlikdan voz kechish: XM Group korxonalari har biri faqat ijro xizmatlarini koʻrsatadi va onlayn savdo platformamizdan foydalanish huquqini beradi, bu odamga veb-saytda yoki veb-sayt orqali mavjud boʻlgan kontentni koʻrish va/yoki undan foydalanishga ruxsat beradi hamda uni oʻzgartirishga moʻljallanmagan va uni oʻzgartirmaydi yoki kengaytirmaydi. Bunday kirish va foydalanish huquqi doimo quyidagilarga boʻysunadi: (i) Shartlar va qoidalar; (ii) Risklar haqida ogohlantirish; va (iii) Javobgarlikni toʻliq rad etish. Shuning uchun bunday kontent umumiy maʼlumot sifatida taqdim etiladi. Xususan, shuni esda tutingki, bizning onlayn savdo platformamiz mazmuni moliyaviy bozorlarda biror bitimni amalga oshirishga oid maslahat yoki taklif emas. Har qanday moliyaviy bozorda savdo qilish sizning kapitalingiz uchun jiddiy risk darajasini oʻz ichiga oladi.
Onlayn savdo platformamizda chop etilgan barcha materiallar faqat taʼlim/axborot maqsadlari uchun moʻljallangan va unda moliyaviy, investitsiya soligʻi yoki savdo maslahatlari va tavsiyalar; yoki bizning savdo narxlarimizning qaydlari; yoki har qanday moliyaviy vositalar bilan bitim tuzish maslahati yoki taklifi; yoki sizga kerak boʻlmagan moliyaviy reklama aksiyalari hisoblanmaydi
Har qanday uchinchi tomon kontenti, shuningdek XM tomonidan tayyorlangan kontent, masalan: fikrlar, yangiliklar, tadqiqotlar, tahlillar, narxlar va boshqa maʼlumotlar yoki bu veb-saytda joylashgan uchinchi tomon saytlariga havolalar umumiy bozor sharhi sifatida "boricha" taqdim etiladi va investitsiya maslahatini tashkil etmaydi. Har qanday kontent investitsiya tadqiqoti sifatida talqin qilinsa, siz bunday kontentni investitsiya tadqiqotlarining mustaqilligini ragʻbatlantirish uchun moʻljallangan qonun talablariga muvofiq moʻljallanmagan va tayyorlanmaganligini eʼtiborga olishingiz va qabul qilishingiz kerak, shuning uchun unga tegishli qonunlar va qoidalarga muvofiq marketing kommunikatsiyasi sifatida qaraladi. Mustaqil boʻlmagan investitsiya tadqiqoti va yuqoridagi maʼlumotlarga oid risk haqida ogohlantirishimizni oʻqib chiqqaningizga va tushunganingizga ishonch hosil qiling, unga bu yerdan kirish mumkin.
