Edition:
United Kingdom

Autoliv CEO says biggest demand weakness seen in China, Western Europe


Friday, 19 Jul 2019 

July 19 (Reuters) - Autoliv Inc ::AUTOLIV INC CEO SAYS LONG-TERM TARGETS OF REACHING SALES OF OVER $10 BILLION, AJD OPERATING MARGIN OF AROUND 13% REMAIN BUT DATE TO BE SET IN NOV.AUTOLIV INC CEO SAYS BIGGEST DEMAND WEAKNESS SEEN IN CHINA, WHERE EMISSION REGULATIONS WERE INTRODUCED EARLIER THAN EXPECTED, AND WESTERN EUROPE.AUTOLIV INC CEO SAYS 5% INDIRECT WORKFORCE CUT TO BE 1,000 JOBS OUTSIDE OF PRODUCTION FUNCTIONS SUCH AS SALES, RESEARCH AND DEVELOPMENT.AUTOLIV INC CEO SAYS MEANINGFUL VOLUMES FOR AUTOLIV FROM LEVEL 5 AUTONOMOUS CARS ARE AT LEAST 10 YEARS OUT.