For the full year, Autoliv said the assumptions imply that organic sales would decline by 6% while consolidated sales would increase by only 2% compared to previous guidance of an organic sales decline of 1% and a consolidated sales increase of 8%.
As a consequence, the previous guidance of an operating margin of 7.0% for the full year has also been revised.
In its 3rd quarter, Autoliv reported a fall in consolidated sales of 1% to $1,5m, whilst organic sales decreased by 7%. The company blamed “significant cuts in North American and West European vehicle production” for the falls.
Operating income for the quarter was $58m, operating margin 3.8%, income before taxes $47m, net income $31m.