Valeo's China sales rise on demand from domestic brands
Valeo SA's sales to automakers in China advanced 22 percent year on year to 1.76 billion euros (12.76 billion yuan) in 2016.
Behind the robust sales growth was demand from domestic brands, which outperformed China's light-vehicle market, Valeo said.
In 2016, China's domestic automakers accounted for 42 percent of Valeo's revenue in China.
While overall light-vehicle sales in China increased 14.9 percent from a year earlier to approach 24.4 million vehicles, domestic brands' deliveries surged 21 percent to top 10.5 million vehicles, according to the China Association of Automobile Manufacturers.
China is Valeo's largest market where it operates all four of its business units -- comfort and driving assistance systems, powertrain components, thermal systems and visibility systems.
In 2016, China's domestic automakers accounted for 42 percent of Valeo's revenue in China.
While overall light-vehicle sales in China increased 14.9 percent from a year earlier to approach 24.4 million vehicles, domestic brands' deliveries surged 21 percent to top 10.5 million vehicles, according to the China Association of Automobile Manufacturers.
China is Valeo's largest market where it operates all four of its business units -- comfort and driving assistance systems, powertrain components, thermal systems and visibility systems.
