Automotive: Adient sales go up in the quarter (+9%), yet profits go down (-25%). Lear is GM’s “supplier of the year”

Sales and revenues have been growing, along with costs though. That is why profits have been dropping along with expectations about margins, which turn milder. This is the overall scenario that comes out after Adient’s financial statements about the second quarter of the business year currently underway. In the period, the revenues of the car seats manufacturing group increased by 9% (that is, 4,6 billion dollars), though gross profits have been decreasing by 25%: hence, announced Adient, they will fail to achieve their 2020 business targets, in terms of margins. In the meantime, General Motors have awarded Lear as “Supplier of the Year” in the “Complete Seat” category: Lear have been winning the prize, created by GM in 1992, seventeen times.


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