Lear hampered by drop in global vehicle production - leatherbiz: Leadi Leatherbiz

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Lear hampered by drop in global vehicle production

29/07/2019
Automotive seating supplier Lear Corporation has reported sales of just over $5 billion in the second quarter of 2019, a decline of more than 10% compared to the same period of last year.

Its Seating segment brought in revenue of $3.8 billion, also a drop of 10%. 

The company’s net income for this period was $183 million, compared to $331 million in the second quarter of 2018.

Discussing these results, Lear’s CEO Ray Scott said global vehicle production was down by more than 7% year-on-year in the second quarter. This included a decline of 17% in China and of 7% in Europe. 

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