US supplier of automotive interiors and components Lear Corporation has reported a decline in net sales for its fourth quarter. Net sales totalled $4.3 billion compared with $4.4 million in the comparable period in 2005. The decline was said to reflect lower production in North America and the divestiture of its European Interior business. Net loss for the quarter increased to $645 million compared with $602.6 million for the same period in 2005.

On a more positive note for the full year, the company reported record net sales of $17.8 billion compared with $17.1 billion in 2005. Pretax income totalled $114.7 million in 2006 compared with $96.6 million in 2005. Net loss fell to $707.5 million compared with $1,381.5 million in 2005.