US tier one supplier Visteon sees flat business in the automotive market for 2025, despite growth in the digital technologies and electrification.
Visteon saw sales of $3.866bn in 2024, down 3.3%% from $3.95bn in 2023, but sees a fall in 2025 between $3.65bn to $3.85bn. This figure for 2025 also doesn’t take into account any impact from tariffs and a global trade war which could hit the business.
The drop comes even as the company outperformed production at its customers by 4% globally and by 9% outside of China, due to the ramp-up of recent product launches and strong performance from electrification products. Profits of $274m were 43% down on $486m in the previous year as the result of a $313m tax hit.
“Visteon delivered strong financial performance in 2024 with market outperformance, margin expansion, and cash generation. We also made significant progress on our strategic initiatives, including strong new business wins and a high number of launches with Japanese, Indian, two-wheeler, and commercial vehicle OEMs,” said President and CEO Sachin Lawande. “Our momentum with new business wins continued with more than $6 billion of wins, and we expanded our product portfolio with our first wins for an on-board charger with DC-DC converter and for a SmartCore HPC. These robust bookings provide a strong foundation for future growth.”
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Visteon was awarded $6.1 billion in lifetime sales in new business wins across all product categories. Design wins included $1.1 billion of clusters, driven by digital clusters, $1.5 billion of SmartCore and infotainment systems, $2.6 billion of displays driven by multiple large display wins, and $700m of electrification deals.
The relationship with Toyota, the largest global car manufacturer grew stronger, and there was the first cockpit win with Maruti Suzuki, the largest Indian OEM as well as multiple large multi-display wins primarily with OEMs in Europe and Rest of Asia. The first SmartCore™ with High-Performance Compute technology with an OEM in China and a power electronics win for an on-board charger and DC-DC converter with a German OEM.
Visteon launched 95 new products in 2024 and is moving into software-defined vehicles in the premium market alongside increased digitalization in the passenger vehicle mass market, commercial vehicle, and two-wheeler markets.
Key launches included digital clusters on the Honda e:NP1 electric vehicle in China, a TVS two-wheeler scooter in India, the Ford Maverick with ICE and hybrid powertrain options, and the Citroen C4 with ICE and electric powertrain options. Other launches included a multi-display module on the Nissan Murano and a battery management system on the all-electric Jeep Recon.
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