(Reuters) -Forvia, the world’s seventh largest car parts supplier by revenue, on Monday reported slightly lower third-quarter sales compared with the same period a year ago.
Sales for the third-quarter reached 6.53 billion euros ($7.09 billion), a 2.6% decrease year-on-year, while Chinese sales fell 13.5%.
“In China, conversely and as expected, we underperformed the local automotive production in the past quarter, due to customer mix evolution and start of productions delayed from 2024 to 2025” said Forvia’s CEO Patrick Koller in a statement.
In late September, Forvia cut its annual sales and profit forecasts for the second time in three months, reflecting weakness in the European and North American markets and delays in China.
($1 = 0.9207 euros)
(Reporting by Nathan Vifflin and Mara Vilcu; editing by Matt Scuffham)
