UPDATE 2-Slowing car market puts brakes on Veoneer sales growth [Reuters]
Veoneer, Inc. (VNE)
Last veoneer, inc. earnings: 4/27 04:01 pm
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Source: Reuters
Slowing car market puts brakes on Veoneer sales growth | Reuters 3 Min Read STOCKHOLM (Reuters) - Swedish autoparts maker Veoneer forecast organic sales would not grow this year as it expects a downturn in Chinese and European car production to persist, adding any further deterioration could force it to seek additional funding. Veoneer forecast its 2019 organic sales would be flat to down slightly from last year after reporting a fourth-quarter organic sales decline of 9 percent, worse than the 7.7 percent fall analysts had expected. “We are seeing a weak first half for (car) production, with the low point there the first quarter,” CEO Jan Carlson told Reuters on Wednesday. Stockholm-listed shares in the company, which makes high-tech safety equipment such as radars, vision systems and advanced driver assistance systems that will be key components in autonomous cars, were down 3.8 percent to 257 Swedish crowns by 1415 GMT. The company said it was “actively reviewing” its investment pr
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