Mexican Media Brands
Veoneer’s Operating Losses Nearly Triple
Veoneer Inc., which spun off from safety equipment supplier Autoliv Inc. a year ago, reports its second-quarter operating loss expanded to $137 million from $48 million.
#economics
Share
Veoneer Inc., which spun off from safety equipment supplier Autoliv Inc. a year ago, reports its second-quarter operating losses expanded to $137 million from $48 million.
The electronics supplier says its net revenue for the period fell 15% to $489 million. Organic sales slid 9%. The company posted a negative cash flow of $70 million.
Veoneer predicts stronger operating results in the second half of 2019. But it also cautions that sales will shrink in the “high single digits,” more than previously expected.
The company anticipates that global light-vehicle production this year will decline in the mid-single digits.
RELATED CONTENT
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.
-
Tariffs on Autos: “No One Wins”
While talk of tariffs may make the president sound tough and which gives the talking heads on cable something to talk about, the impact of the potential 25 percent tariffs on vehicles imported to the U.S. could have some fairly significant consequences.
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.