Valeo outpaces global auto production by investing on fuel-saving, self-driving tech
France-based automotive supplier Valeo announced its sales increased 22% to outpace global vehicle production in all regions, keeping untouched its 2017 goals on strong demand for its fuel-saving and automated-driving technology.
Revenue rose to 4.77 billion euros (US$ 5.19 billion) in January-March from 3.92 billion a year earlier, the company said in a statement.
The quarterly performance demonstrates “the high growth potential of each of our four business groups,” CEO Jacques Aschenbroich said in the statement.
By investing in electrification and other fuel-saving engine technologies, Valeo has positioned itself to benefit from a global crackdown on CO2 and other emissions. It has also become a major supplier of autonomous driving systems in partnership with Israel’s Mobileye.
Thermal Systems sales rose 15% while the Powertrain Division hiked 11%. Visibility systems, which include LED lighting, reported a 14% sales increase, while Comfort and Driving Assistance rose 10%.
The company reiterated its full-year goal for sales growth at least five percentage points above global automotive production, seen expanding between 1.5% and 2%. The company has pledged a slight increase in operating margin.
Valeo in Mexico
Valeo owns 13 operations in Mexico and every division in the company has presence in the country. The operations include 2 sales-customer service offices, 2 research centers and 9 production sites.
The company operates a Visibility Systems Regional Research Center and a production site for the Wiper Systems Product Group in Juarez, Chihuahua.
A Valeo Service Sales Office for the Independent Aftermarket Organization is located in Mexico City.
The company owns 2 production sites for the Lighting Systems Product Group in Queretaro, central Mexico.
In Rio Bravo, Tamaulipas, Valeo operates a Comfort and Driving Assistance Systems production site for Driving Assistance, Interior Controls and Interior Electronics Product Groups.
The company owns 4 facilities in San Luis Potosi, a Powertrain Systems Business Group Development Center and production site; 2 Thermal Systems and Visibility Systems Business Groups production sites; and a Valeo North American Shared Services Administration Offices.
A facility in Toluca operates as Thermal Systems Business Group production site for the Climate Control Systems Product Group and Comfort and Driving Assistance System Business Group, and as production site for the Interior Electronics Product Group.