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Continental AG says start of year "difficult" on car slump
March 7, 2013 / 7:56 AM / 5 years ago

Continental AG says start of year "difficult" on car slump

FRANKFURT, March 7 (Reuters) - Germany tyre maker Continental AG said it “got off to a difficult start” of the year and predicted auto production in Europe and the NAFTA region would decline by about 8 percent between January and March.

The falling car production would lead sales of Continental AG to shrink between 1 and 3 percent in the period, Chief Executive Elmar Degenhart said on Thursday.

He reiterated the company would increase sales by about 5 percent this year to more than 34 billion euros ($44 billion)and to hold the operating profit margin above 10 percent. ($1 = 0.7692 euros) (Reporting by Andreas Cremer; Editing by Peter Dinkloh)

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