Sales down 10% at Lear in H1 2019

摘要

Southfield,Michigan-Lear,which makes automotive seating and electrical components,generated sales of $10.2bn in the first half of 2019.This is lower by 10% than the same period in 2018.Core operating earnings across the business fell 24% and hit $730m in the second quarter of 2019.’We continue to face a challenging macroeconomic and industry environment,’said Lear CEO Ray Scott.’In the second quarter of 2019,global vehicle production was down more than 7% compared to last year.’Production in China was down 17%,and in Europe it was down 7%.The fall in car production in the second quarter was one of several causes of the decline.Programme changeovers and slower production ramp ups on new vehicles slowed things down.The dollar's strength also added to the difficulties.