Valeo's China sales jump 17% in 2017
Valeo’s sales to automakers operating in China advanced 17 percent from a year earlier to 2.37 billion euros (18.5 billion yuan) in 2017.
The growth was achieved from sales to domestic Chinese automakers, which accounted for 38 percent of its local business, excluding Valeo Siemens eAutomotive, the French supplier said.
Last year, domestic car brands’ sales rose 3 percent from 2016, outpacing overall light-vehicle demand in China, which edged up only 1.4 percent.
Valeo Siemens eAutomotive, a joint venture Valeo and Siemens formed in 2016 to develop electric and hybrid vehicle systems, booked 6.1 billion euros in orders last year, of which more than half in China.
As a result, China represented 14.7 percent of Valeo’s global sales in 2017, up 0.5 percentage points from 2016.
Another French supplier, Faurecia SA, also attributed strong China sales in 2017 to strong demand from domestic automakers.
Faurecia’s 2017 China sales rose 15 percent to 2.25 billion euros (17.55 billion yuan). Sales to China’s domestic automakers surged 63 percent from a year earlier to 355 million euros in the year.
The growth was achieved from sales to domestic Chinese automakers, which accounted for 38 percent of its local business, excluding Valeo Siemens eAutomotive, the French supplier said.
Last year, domestic car brands’ sales rose 3 percent from 2016, outpacing overall light-vehicle demand in China, which edged up only 1.4 percent.
Valeo Siemens eAutomotive, a joint venture Valeo and Siemens formed in 2016 to develop electric and hybrid vehicle systems, booked 6.1 billion euros in orders last year, of which more than half in China.
As a result, China represented 14.7 percent of Valeo’s global sales in 2017, up 0.5 percentage points from 2016.
Another French supplier, Faurecia SA, also attributed strong China sales in 2017 to strong demand from domestic automakers.
Faurecia’s 2017 China sales rose 15 percent to 2.25 billion euros (17.55 billion yuan). Sales to China’s domestic automakers surged 63 percent from a year earlier to 355 million euros in the year.
