Volvo Cars has entered into a new sourcing agreement with the Sweden-based steel company SSAB for the supply of high-quality, recycled and near-zero emissions steel, beginning 2025. The agreement makes Volvo Cars the first car manufacturer to secure a supply agreement with SSAB for recycled, near-zero emissions steel intended for serial production. This agreement extends a long-term collaboration aimed at promoting sustainable steel. Volvo Cars is also advancing its circular sustainability go...

ChargePoint Holdings Inc. announced its financial results for the first quarter of fiscal year 2026, which ended on April 30, 2025. The company reported a revenue of $98 million, with a generally accepted accounting principles gross margin of 29% and a non-GAAP gross margin of 31%. The first-quarter revenue was down by 9% from the previous year's $107 million for the same quarter. The subscription revenue for this quarter was $38 million, marking a 14% increase compared to the previous y...

Ambarella Inc., based in Santa Clara, California, has released its financial results for the first quarter of fiscal year 2025–26, which ended on April 30, 2025. The company, listed on Nasdaq under the symbol AMBA, reported that its revenue for the period was $85.9 million, marking a 57.6% increase from $54.5 million in the same quarter of the prior fiscal year. The gross margin, according to US generally accepted accounting principles (GAAP), for this quarter was 60.0%, slightly down from 60....

Samvardhana Motherson International Ltd. reported a 40% year-over-year increase in net income of 38 billion rupees (about $444.5 million) in the financial year ended March 31, 2025, the leading auto parts manufacturer from India said in a press release on May 29. The company recorded strong growth in net profit as total revenue surged 15.2% year over year to 1.14 trillion rupees. Higher revenue also helped the Indian supplier to record a profit before tax of 56.2 billion rupees, up 37% year...

Antolin reported a profit of €5.6 million in the first quarter ended March 31, 2025, marking a return to profitability after losses in the previous financial year. This improvement is attributed to the company's efficiency and cost-control measures implemented as part of its Transformation Plan. Despite a 5.2% year-over-year decline in sales to €985 million due to market instability and reduced global vehicle production, the Spain-based company saw a 15% year-over-year increase ...

Baidu's autonomous ride-hailing service, Apollo Go, expanded its fleet to 1,000 robo-taxi vehicles globally, representing a significant milestone for the company, CnEVPost reported May 21. During a recent earnings call, CEO Robin Li shared that Baidu aims to strengthen its position in the autonomous ride-hailing market. According to Baidu's unaudited earnings report, Apollo Go provided over 1.4 million rides in the first quarter, an increase of 75% compared with the same quarter the prev...

Automotive lighting supplier Koito Manufacturing reported a 4% year-over-year decline in net sales to Â¥916.7 billion (about $6.1 billion) for the financial year ended March 31, 2025, the company said in a press release on May 12. The lower sales impacted the company’s operating profit, which fell by 20% year over year to Â¥44.8 billion. Despite this, Koito recorded a 13% year-over-year increase in net profit to Â¥46.2 billion. Net sales declined...

Tachi-S reported a 2.6% year-over-year decline in net sales to ¥285.4 billion (about $2 billion) in the financial year ended March 31, 2025, the Japan-based seating system supplier said in a press release on May 14. Despite the drop in net sales, the company recorded a 33.6% year-over-year growth in operating income to ¥9.6 billion, while net income more than doubled to ¥11.3 billion. Net sales declined in Japan by 7.7% year over year to ¥115.5 billion and in North America by 19.7% year o...

TS Tech’s revenue increased 4.3% year over year to Â¥460.5 billion (about $3.1 billion) in the financial year ended March 31, 2025, the Japanese supplier said in a press release on May 14. Despite higher revenue, the company witnessed a 6.2% year-over-year decline in operating profit to Â¥16.4 billion. TS Tech concluded the financial year with a 15.5% year-over-year drop in net income to Â¥8.6 billion. In Japan, TS Tech reported a 21.1% year-over-year growth to Â¥110.5 billion.&nb...

Volvo Cars announced an expanded partnership with Google to enhance the delivery of Android Automotive OS innovations in its vehicles featuring Google built-in. This collaboration includes the integration of Google Gemini, demonstrated in a Volvo EX90 at Google I/O 2025, and establishes Volvo as one of Google's reference hardware platforms for future Android development in cars. Patrick Brady, vice president of Android for Cars at Google, expressed enthusiasm for the partnership's potential to i...

Bridgestone has reported a 12.6% year-over-year drop in net profit to ¥75.7 billion (about $505.2 million) in the first quarter ended March 31, 2025, as revenue slipped 0.6% year over year to ¥1.06 trillion, the Japanese tiremaker said in a press release on May 15. Lower revenue also impacted Bridgestone’s operating profit, which fell 24.6% year over year to ¥88.8 billion. The company recorded adjusted operating profit of ¥111.4 billion, down 7.3% from ¥120.1 billion recorded in the first...

Yokohama Rubber announced its financial performance for the first quarter of the fiscal year 2025, which ended March 31, 2025, and recorded a 9% year-over-year increase in sales revenue to Â¥275.1 billion (about $1.8 billion). Despite increased sales, profits were lower compared to the same period last year. Business profit, which is calculated as sales revenue minus the combined cost of sales and selling, general and administrative expenses, experienced a...

Indian tiremaker Apollo Tyres reported a 2.9% year-over-year increase in revenue to 261.2 billion rupees (about $3 billion) in the financial year ended March 31, 2025, the company said in a regulatory filing on May 14. Despite moderate growth in revenue, Apollo Tyres recorded a 39.1% year-over-year decline in profit before tax to 15.5 billion rupees. The company concluded the financial year with net profit of 11.2 billion rupees, down 34.9% year over year from 17.2 billion rupees realized i...

Toyoda Gosei’s net profit declined 29.4% year over year to Â¥36.3 billion (about $242.4 million) in the financial year ended March 31, 2025. The Japanese supplier reported a sharp decline in net profit as revenue fell marginally, by 1.1% year over year, to Â¥1 trillion. Lower revenue also resulted in an 11.6% year-over-year decline in operating profit to Â¥59.8 billion and a 17.6% year-over-year drop in profit before tax to Â¥59.2 billion. “Unfortunately, the financial results w...

Hanon Systems, a subsidiary of Hankook & Company Group, has reported an 8.9% year-over-year increase in net sales to 2.6 trillion Korean won ($1.8 billion) in the first quarter ended March 31, 2025. The South Korean company, a specialist in automotive thermal systems, attributed higher sales to favorable foreign exchange rates and increased production volumes. Despite the increase in revenue, Hanon reported an operating profit of 20.9 billion won, representing a 68.5% ...

AGC Inc., formerly Asahi Glass Co., has announced its financial results for the three months ended March 31, 2025. Net sales amounted to ¥499.6 billion ($3.4 billion), up ¥0.8 billion, or a 0.2% increase year over year. Operating profit increased by ¥1.7 billion, or 7.0%, to ¥25.8 billion owing to the effects of measures to improve profitability, despite cost deterioration factors such as higher raw materials and fuel prices. Profit before tax for the period increased ¥23.3 billion to ¥17....

According to a press release on May 8, Diodes reported Q1 2025 revenues at $332.1 million, compared to $302.0 million in the first quarter of 2024, increasing 10% year over year (YOY) and $339.3 million in the prior quarter. GAAP net loss was $4.4 million, compared to GAAP net income of $14.0 million in the same quarter a year ago and GAAP net income of $8.2 million last quarter.EBITDA was $26.2 million. Commenting on the results, Gary Yu, President of ...

The Bosch Group reported a 1.4% year-over-year decline in revenue to €90.3 billion in the financial year ended Dec. 31, 2024, the company said in its annual press conference held in Stuttgart and Renningen, Germany, on May 8, 2025. Revenue fell by 0.5% after adjusting for exchange rate effects. Lower revenue impacted Bosch’s earnings, as reflected in a 31.8% year-over-year decline in earnings before interest and tax, to €3.1 billion, resulting in an EBIT margin of 3.5%. “In the 2...

Gestamp presented its financial results for the first quarter ended March 31, 2025, reporting a 2.2% year-over-year decline in revenue to nearly €3 billion. The company’s EBITDA decreased by €11 million to €307 million and was equivalent to 10% of sales during the quarter. Excluding the Phoenix Plan impact, Gestamp’s restructuring program in North America, the company reported EBITDA of €307 million and an EBITDA margin of 10.3%. Gestamp concluded the first quarter with a net income ...

Goodyear Tire & Rubber has reported a 6.2% year-over-year decline in net sales to $4.2 billion in the first quarter ended March 31, 2025. Despite lower sales, the US-based tiremaker reported income before income taxes of $131 million against a loss before income taxes of $52 million in the first quarter of 2024. Goodyear also recorded net income of $115 million, against a net loss of $57 million during the same period a year earlier. Net sales declined in the Americas by 3.3% year over ye...

LG Energy Solution (LGES) announced its financial results for the first quarter of 2025, reporting consolidated revenue of 6.3 trillion won (approximately $4.2 billion) and an operating profit of 375 billion won. The company attributed its return to profitability to rigorous cost-cutting measures, despite facing a 2.9% quarter-over-quarter revenue decrease. Operating profit benefited from an Inflation Reduction Act (IRA) tax credit amounting to 458 billion won, contributing to an EBITDA margi...

Adient’s net sales declined 3.7% year over year to $3.6 billion in the second quarter ended March 31, 2025, the company said in a press release. The company recorded an earnings before interest and tax loss of $265 million against an EBIT income of $8 million in the second quarter of the previous financial year, as restructuring and impairment costs more than doubled to $375 million from $125 million. Adient concluded the second quarter with a higher net l...

Solid Power, headquartered in Colorado, US, announced its operational and financial results for the first quarter of 2025, highlighting progress in its solid-state battery technology development. Financially, Solid Power recorded $6.0 million in revenue in the first quarter of 2025, predominantly from agreements with SK On Co. Ltd. This is slightly up from $5.9 million reported in the first quarter of 2024. The company reported a reduction in operating expenses to $30.0 million, a decrea...

Lear has reported a 7.2% year-over-year decline in sales to $5.5 billion in the first quarter ended March 31, 2025. Excluding the impact of commodities, foreign exchange, acquisitions and divestitures, sales were down 5%. The US-based supplier attributed the decline in first-quarter sales to lower production on its key platforms, partially offset by the addition of new business in both of its business segments. Lear reported core operating inc...

Continental has reported a 0.8% year-over-year decline in consolidated sales to €9.7 billion in the first quarter ended March 31, 2025. Lower sales reflect a challenging automotive business environment in Europe and North America, the two key markets of the Germany-based supplier, where light vehicle production dropped 7% and 5%, respectively. The company recorded adjusted earnings before interest and taxes of €639 million and an adjusted EBIT margin of 6.6%....

In a press release on May 6, Globalfoundries (GF) reported its preliminary financial results for the first quarter ended March 31, 2025. The company recorded a revenue of $1.585 billion, compared to $1.549 billion, increasing 2% year over year. The company reported a net income of $211 million. The company's non-International Financial Reporting Standards (non-IFRS) adjusted EBITDA was reported at $558 million. “In the first quarter, the GF team delivered strong financial results at th...

Forvia reported a 2.6% year-over-year increase in consolidated revenue to €6.7 billion in the first quarter ended March 31, 2025, the French supplier said in a press release. On constant exchange rates, revenue increased 2.1% during the period when the global light vehicle production increased by 1.3% to 21.4 million. The company recorded strong growth in revenue in Europe, the Middle East and Africa, and Asia, which was partially offset by lower revenue in the Americas. In EMEA, Forvia rec...

Magna has reported an 8.2% year-over-year decline in sales to $10.1 billion in the first quarter that ended March 31, 2025, the Canada-based automotive supplier said in a press release on March 2. This decline in sales coincided with a 3% decrease in global light vehicle production, including decreases of 8% in Europe and 5% in North America. In addition, sales were negatively impacted by lower complete vehicle assembly volume, including because of the end of the production of the Jaguar E-Pace ...

As reported in a press release on May 1, Aptiv reported a generally accepted accounting principles revenue of $4.8 billion, marking a 2% decrease from $4.9 billion in the previous year, for the three months ended March 31, 2025. In the first quarter of 2025, the company reported a GAAP net loss of $11 million, compared to a net income of $218 million in the same period last year. The company also reported a GAAP operating income of $448 million in the first quarter of 2025...

Antolin has reported a 6% like-for-like drop in sales to €4.19 billion in the financial year that ended Dec. 31, 2024. The company attributed part of this decline in sales to the divestments carried out as part of its comprehensive restructuring plan, called the Transformation Plan. EBITDA fell by 4.1% year over year to €315 million. However, the EBITDA margin improved by 40 basis points to 7.5%. Antolin concluded the financial year with a higher net loss of €...

Automotive lighting supplier Stanley Electric reported a 7.9% year-over-year increase in net sales to ¥509.6 billion (about $3.4 billion) in the financial year ended March 31, 2025. Higher sales helped the Japan-based company record a 36.7% year-over-year growth in operating income to ¥49 billion. Stanley Electric concluded the financial year with net income of ¥32 billion, up 21% year over year from ¥26.5 billion reported in the previous financial year. Stanley Electric attributed growth...

Gentex has halted production of interior and exterior mirrors destined for shipments to customers in mainland China, citing a recent increase in tariffs, the US-based automotive mirror supplier disclosed during a call to discuss its financial results for the first quarter of 2025. “As a result of the current and expected tariff escalation in the China market, the company has proactively halted production of interior and exterior mirrors destined for customers in the China mar...

DENSO has reported a slight improvement in revenue to Â¥7.2 trillion (about $47.9 billion) in the financial year ended March 2025, the leading Japanese automotive supplier said in a press release on April 25. Despite marginal growth in revenue, the company recorded a 36.4% year-over-year increase in operating profit to Â¥519 billion, while consolidated net profit jumped 34% year over year to Â¥419.1 billion. “Despite lower vehicle production volumes in Asia and suspensions of oper...

MAHLE reported an 8.9% year-over-year drop in sales to €11.7 billion in the financial year ended Dec. 31, 2024, the company said during its annual press conference on April 15. Sales declined 5.6% year over year after adjusting for exchange rate effects. MAHLE attributed lower sales to weak markets in Europe and North America, and tepid demand for electric vehicles outside China. Despite the drop in sales, the Germany-based company recorded a 39.1% year-over-year growth in earning...

Autoliv has reported a 1.4% year-over-year decline in net sales to $2.58 billion in the first quarter ended March 31, 2025. Sales increased organically by 2.2%, which was up 2.6% and higher than the 0.4% drop in global light vehicle production, according to S&P Global Mobility data. Sales declined in the key markets of Europe, the Americas and China. Autoliv’s sales declined in Europe by 0.7% year over year to $764 million, in the Americas by 4.7% year over...

At its CEO Investor Day in Seoul, South Korea, on April 9, Kia Corp. revealed its updated Plan S strategy, setting ambitious goals for the mid-to-long term, including achieving global sales of 4.19 million units by 2030, with 2.33 million of these being hybrid and electric vehicles. Kia's strategy emphasized diversification with the introduction of new models such as purpose-built vehicle (PBVs) and pickup trucks. Ho Sung Song, Kia's CEO, emphasized the company's transformation since 2021 toward...

Forvia Hella’s sales increased 0.9% year over year to €8 billion in the financial year ended Dec. 31, 2024, the Germany-based supplier said in a press release. Sales, after adjusting currency fluctuations, improved 1.3% year over year to €8.1 billion. This topline performance comes amid a 1.1% decrease in global vehicle production, with a notably larger decline of 4.3% in the European automotive market. Despite improvement in sales, the company witnessed an 8.3% year-over-year decl...

Nexteer Automotive’s revenue increased 1.6% year over year to $4.3 billion in the financial year ended Dec. 31, 2024, the US-based steering systems supplier said in a press release. After adjustments for foreign currency and commodity recoveries, the revenue saw a 2.5% boost, surpassing market performance by 360 basis points. The company recorded a 10.1% year-over-year increase in revenue in Asia-Pacific to $1.3 billion. This was partially offset by a 2.9% year-over-year decline in revenue ...

Kongsberg Automotive has reported 10.9% year-over-year decline in revenue to €788.2 million in the financial year ended Dec. 31, 2024. Despite the sharp drop in revenue, the Norway-based company recorded earnings before interest and tax of €18.7 million compared to an EBIT loss of €19.7 million in the previous financial year. Kongsberg Automotive also narrowed its full-year net loss to €18.2 million from €59.1 million in 2023. In the fourth quarter, Kongsberg Automotive’...

CATL, a leading Chinese electric vehicle battery manufacturer, reported a 15% year-over-year increase in its net profit to 50.7 billion yuan (about $7.01 billion) for the full year of 2024. The growth is slightly below the company's projected growth of 11.1%-20.1% and marked its slowest profit growth in six years amid a fierce price war in China's EV market. This period also saw CATL experiencing its first annual revenue decline of 9.7% to 362 billion yuan since it began publishing ...

OPmobility, formerly known as Plastic Omnium, has reported results for the financial year ended Dec. 31, 2024. The company recorded a 2.2% year-over-year increase in economic revenue to €11.6 billion, mainly driven by the Modules and Exterior business segments. Consolidated revenue, which does not include OPmobility’s share of revenue from joint ventures, improved 1.6% year over year to €10.5 billion.    The company’s economic revenue remained stable at 2023 level in Europe ...

Stoneridge has reported a 6.9% year-over-year decline in net sales to $908.3 million in the financial year ended Dec. 31, 2024. Lower sales led the US-based supplier to record an operating loss of $0.4 million against operating income of $12.8 million in the previous financial year. The company also reported higher net loss of $16.5 million compared to net loss of $5.2 million in 2023. Stoneridge reported adjusted EBITDA of $6 million, equivalent to 2.7% of sales. "In 2024, our focus remained...

Martinrea International, a Canada-based automotive supplier specializing in lightweight structures and propulsion systems, announced its financial results for the fourth quarter and full year ended Dec. 31, 2024. In the fourth quarter, Martinrea reported an 11.2% year-over-year decline in sales to $1.15 billion, which led the company to record a 15.8% year-over-year decline in gross profit to $129 million. Lower sales, along with higher impairment charges of $129.4 million, forced Martinrea t...

ElringKlinger, a Germany-based supplier of powertrain, chassis and underbody solutions to the automotive industry, released its preliminary and unaudited financial results for the financial year ended Dec. 31, 2024. The company reported a 2.4% year-over-year decline in revenue to €1.8 billion, which also led to a 27.9% year-over-year drop in EBITDA to €144.4 million and a 7.3% year-over-year decrease in adjusted EBITDA to €197.2 million. ElringKlinger recorded adjusted earnings before inte...

The Schaeffler Group has reported an 11.5% year-over-year increase in revenue to €18.2 billion in the financial year ended Dec. 31, 2024. At constant foreign exchange rates, the company’s full-year revenue was up 12.9% year over year. The Germany-based supplier attributed the strong growth in revenue to consolidation of Vitesco Technologies, acquired in 2024. Despite the revenue growth, earnings before interest and tax before special items declined 31.6% year over year to €811 mill...

EVgo Inc., a notable electric vehicle charging network, announced its financial results for the fourth quarter ended Dec. 31, 2024, showcasing significant growth and outlining its expectations for 2025. The company reported a fourth-quarter revenue of $67.5 million, marking a 35% increase year over year, and a record annual revenue of $256.8 million for 2024, up 60% from 2023. The net loss showed marginal improvement, decreasing by 3% year over year to $35.6 million in the fourth quarter and ...

ChargePoint, a provider of networked solutions for charging electric vehicles, disclosed its financial results for the fourth quarter and the entire fiscal year of 2025, ended Jan. 31, 2025. The company reported a fourth-quarter revenue of $102 million and a total fiscal-year revenue of $417 million. Despite a decrease in fourth-quarter revenue by 12% from the prior year and an 18% decrease in total annual revenue, ChargePoint saw an increase in subscription revenue and significant reductio...

Continental has reported a 4.1% year-over-year decline in consolidated sales to €39.7 billion in the financial year ended Dec. 31, 2024. Despite lower sales, the Germany-based supplier recorded 10.3% year-over-year growth in EBITDA to €4.5 billion, equivalent to 11.3% of sales, and 23.4% year-over-year growth in earnings before interest and tax to €2.3 billion, equivalent to 5.8% of sales. Continental concluded the financial year with a 1% year-over-year increase in net income to €1.2 bi...

Italian supplier Sogefi reported a 1.7% year-over-year decline in revenue to €1 billion in the financial year ended Dec. 31, 2024. The decline in revenue was in line with a 1.1% year-over-year fall in global light vehicle production during the year. Despite lower revenue, the company recorded a 16.2% year-over-year increase in EBITDA to €125.3 million and a 78.5% year-over-year growth in earnings before interest and tax to €45.7 million. Sogefi concluded the financial year with profit...

CIE Automotive’s sales increased 1.1% year over year to €3.96 billion in the financial year ended Dec. 31, 2024. The Spanish supplier recorded growth in sales in a challenging business environment when global vehicle production declined 2% over 2023. The company reported EBITDA of €728 million and earnings before interest and tax of €538 million, reflecting an EBITDA margin and EBIT margin of 18.4% and 13.6%, respectively. CIE Automotive concluded the financial year with a 5% year-over-y...

Forvia’s sales declined 1% year over year to €27 billion in the financial year ended Dec. 31, 2024, the French supplier said in a press release. Organic sales, at constant scope and currencies, increased 0.4% year over year in a challenging business environment, when global vehicle production fell 1.1% to 89.5 million units. At €1.4 billion, operating income was down 2.7% from €1.4 billion and equivalent to 5.2% of sales compared to 5.3% in 2023. The company concluded the financial ye...

Automotive supplier Dana has announced its financial results for the fourth quarter and the full year of 2024. For the full financial year, the company reported a 2.6% year-over-year decline in sales to $10.3 billion. Lower sales impacted Dana’s earnings before interest and taxes, which fell 28.5% year over year to $226 million. The company concluded the financial year with a net loss of $57 million against a net income of $38 million in 2023. However, Dana’s adjusted net income improved to ...

Gestamp, a Spain-based supplier of highly engineered metal components for the automotive sector, announced its financial results for the year 2024. The company reported a 2.2% year-over-year decline in revenue to €12 billion. Lower revenue impacted earnings as Gestamp recorded a 5.6% year-over-year decline in EBITDA to €1.3 billion, translating into an EBITDA margin of 10.8%, while net income fell 33.1% to €188 million. Francisco J. Riberas, chairman of Gestamp, expressed satisfact...

Valeo’s sales declined 2.5% year over year to €21.5 billion in the financial year ended Dec. 31, 2024, the French supplier said in a press release. On a like-for-like basis, the company’s sales decreased 0.5%. Original equipment (OE) sales declined 4% year over year to €17.95 billion and was equivalent to 84% of Valeo’s total sales in 2024. At €2.3 billion, aftermarket sales remained stable at the 2023 level and accounted for 11% of the company’s total sales during the fi...

Pirelli has announced its preliminary, unaudited, financial results for the full year of 2024, reporting a 1.9% year-over-year increase in revenue to €6.8 billion. The organic revenue growth was 4.4%, after accounting for a negative foreign exchange impact of 2.5%. A major contributing factor to this growth was a 2.5% improvement in the price mix, aligning with the targeted adjustment. Pirelli's adjusted earnings before interest and tax for the year stood at €1.06 billion, up 5.9% ye...

Keysight Technologies has announced its financial outcomes for the first fiscal quarter ended Jan. 31. The company experienced a positive start to the year, showcasing year-over-year growth in both revenue and orders, as highlighted by Satish Dhanasekaran, Keysight's president and CEO. Dhanasekaran emphasized the company's pivotal role in providing critical technologies for next-generation applications and its strong position to generate long-term value for its stakeholders. For this qua...

Cooper-Standard has released its financial results for the fourth quarter and the full year ended Dec. 31, 2024. In the fourth quarter, the company saw a slight decrease in sales by 1.9% year over year to $660.8 million compared to the same period in 2023. Despite the drop in sales, the company recorded operating income of $31.7 million against operating loss of $4.5 million in the fourth quarter of 2023. Cooper-Standard also posted a net income of $40.2 million against a net loss of $55.2 milli...

Toyo Tire’s net profit increased 3.5 % year over year to ¥74.8 billion (about $475 million) in the financial year ended Dec. 31, 2024, driven by a 2.3% year-over-year growth in net sales to ¥565.4 billion. Higher sales also helped the Japanese tiremaker to record a 22.2% year-over-year increase in operating income to ¥94 billion. Toyo Tire witnessed a 4.3% year-over-year decline in net sales in Japan to ¥116.9 billion. However, the company recorded strong growth in overseas markets, esp...

Bridgestone’s net profit declined 14% year over year to ¥285 billion (about $1.8 billion) in the financial year ended Dec. 31, 2024, the company said in a press release. Revenue increased 2.7% year over year to ¥4.43 trillion. Despite higher revenue, Bridgestone recorded an 8% year-over-year drop in operating profit to ¥443.3 billion and 5% year-over-year decline in profit before tax to ¥421.4 billion. At ¥483.3 billion, adjusted operating income was up 0.6% year over year from ¥480.6 bi...

Visteon has reported 2024 full-year net sales of $3.87 billion, down 2.2% from 2023. Gross profit for the full year was $531 million while net income was $274 million or $9.82 per diluted share. Net income declined nearly 44% compared to the prior year due primarily to the non-cash tax benefit. Adjusted EBITDA was a record $474 million and increased $40 million compared to the prior year. The increase primarily reflects the impact of strong operational performance, cost discipline and lower year...

Hyundai Mobis reported a 46.5% year-over-year increase in net profit to 4 trillion won (about $2.75 billion) in the financial year ended Dec. 31, 2024. The leading South Korean automotive supplier reported strong growth in net profit driven by a 28.4% year-over-year increase in sales to 52.2 trillion won. Higher sales also helped Hyundai Mobis to achieve a 73.4% year-over-year increase in operating profit to 3.1 trillion won and a 45.6% year-over-year jump in pretax profit to 5.3 trillion won. ...

Yokohama Rubber reported an 11.1% year-over-year increase in sales revenue to ¥1.1 trillion (about $6.95 billion) in the financial year ended Dec. 31, 2024. Higher sales helped the Japanese supplier to record a 35.6% year-over-year growth in business profit to ¥134.4 billion and an 18.7% year-over-year increase in operating profit to ¥119.2 billion. The company concluded the financial year with an 11.4% year-over-year increase in net profit to ¥74.9 billion. According to Yokohama Rubber, ...

American Axle & Manufacturing (AAM) reported net income of $35 million in the financial year ended Dec. 31, 2024, compared to net loss of $33.6 million a year earlier. The company recorded a 64.7% year-over-year growth in operating income to $241.4 million, and income before income taxes of $62.8 million against loss before income taxes of $24.5 million in 2023. AAM recorded strong growth in earnings despite marginal growth in net sales of 0.7% year over year to $6.1 billion. Higher net s...

Michelin’s net income declined 4.7% year over year to €1.9 billion in the financial year ended Dec. 31, 2024. The company’s net income fell in line with a 4.1% year-over-year decline in net sales to €27.2 billion. Michelin also recorded a 5.4% year-over-year decline in segment operating income to €3.4 billion, resulting in a segment operating margin of 12.4% compared with 12.6% in the previous financial year. At constant exchange rates, sales declined 3.1% year over year. Michelin a...

In a press release on Feb. 11, AMS Osram reported fiscal-year 2024 revenue at €3.43 billion, compared to â‚¬3.60 billion in fiscal year 2023, down by 5% year over year, due to a decline in the Lamps & Systems segment after divesting its Digital Systems business in 2023 and discontinuing some original equipment manufacturer module business. Fiscal-year 2024 revenue by segment: Opto Semiconductors (OS): â‚¬1,448 million CMOS Sensors & ASICs (CSA): â‚¬981 million ...

Magna’s net profit declined 16.8% year over year to $1 billion in the financial year ended Dec. 31, 2024. Sales improved slightly by $39 million to $42.8 billion. The Canadian supplier recorded income from operations before income taxes of $1.5 billion, down 4% year over year from $1.6 billion in the previous financial year. Adjusted earnings before interest and taxes at $2.3 billion was 4% up year over year from $2.2 billion recorded in 2023. The company’s full-year sales benefited from ...

The Goodyear Tire & Rubber Co. has reported a net income of $70 million in the financial year ended Dec. 31, 2024, against a net loss of $689 million a year earlier, despite witnessing a 5.9% year-over-year drop in net sales to $18.9 billion. The company also recorded income before income taxes of $155 million against loss before income taxes of $677 million in 2023. Goodyear recorded segment operating income of $1.3 billion, up $350 million from the previous financial year. The companyâ€...

KYB has reported a 16.2% year-over-year decline in net profit to ¥9.2 billion (about $58.3 million) in the nine-month period of financial year 2024/25, ended Dec. 31, 2024, the Japan-based supplier of automotive shock absorbers said in a press release. Net sales dropped 1.8% year over year to ¥322.8 billion. Lower sales also impacted KYB’s operating profit, which declined 0.6% year over year to ¥15.3 billion, and profit before taxes, which fell 0.4% year over year to ¥14.7 billion. Net ...

Automotive glazing specialist AGC has reported a 2.4% year-over-year increase in net sales to ¥2.07 trillion (about $13.1 billion) in the financial year ended Dec. 31, 2024. Despite the growth in net sales, the Japanese supplier recorded a 2.3% year-over-year decline in operating profit to ¥125.8 billion. The company concluded the financial year with a net loss of ¥94 billion against a net profit of ¥65.8 billion in the previous financial year. Sales in the Automotive business remained st...

In a press release on Feb. 11, Diodes Inc. has announced its financial results for the fourth quarter and full year ended Dec. 31, 2024. The company reported fourth-quarter 2024 revenue of $339.3 million, marking a slight decrease from the previous quarter's $350.1 million but exceeding the fourth quarter of 2023's $322.7 million, achieving over 5% growth year over year. The generally accepted accounting principles gross profit was $110.9 million and operating income was $11.9 mil...

In a press release on Feb. 11, GlobalFoundries (GF) has announced its preliminary financial outcomes for the fourth quarter and the fiscal year ended Dec. 31, 2024. The company reported fourth-quarter 2024 revenue of $1.830 billion and highlighted several key financial metrics for the fourth quarter, including a gross margin of 24.5% and a net loss of $729 million. For the full year 2024, GF reported revenue of $6.750 billion, down 9% year over year compared to the $7.392 billion re...

In a press release on Feb. 10, Onsemi disclosed its financial performance for the fourth quarter and the entirety of fiscal year 2024. The company revealed that its fourth-quarter revenue stood at $1,722.5 million. In terms of profitability, the generally accepted accounting principles' operating margin was reported to be 23.7%, with a non-GAAP operating margin slightly higher at 26.7%. The company reported its annual 2024 revenue at $7.08 billion, down 14.18% year over year.  The net incom...

Grammer has reported preliminary financial results for the fourth quarter and full year ended Dec. 31, 2024. In the fourth quarter, the Germany-based supplier of seats and interior parts reported a 13.9% year-over-year decline in revenue to €449.7 million. The company’s financial figures for the fourth quarter of 2024 and for the previous year have been adjusted for the discontinued operations of the TMD Group. Lower revenue severely impacted Grammer’s operating earnings before interest...

In a press release dated Feb. 6, BorgWarner announced that it has achieved a net revenue of $14.1 billion during full year 2024, which is marginally lower by 0.8% year over year. Net income for the full year stood at $338 million, compared to $695 million reported in 2023. The fourth-quarter financial highlights show a 2.4% year-over-year decrease in US generally accepted accounting principles net sales to $3.4 billion and a net loss of $1.84 per diluted share. Net loss for the fourth qu...

Aptiv announced its financial results for the fourth quarter and the full year of 2024. In the fourth quarter, Aptiv reported a US generally accepted accounting principles revenue of $4.9 billion, mirroring the revenue from the same period in the previous year. When adjusted for currency exchange and commodity movements, there was a slight decrease of 1% in revenue. The company achieved a US GAAP net income of $268 million with earnings of $1.14 per diluted share and a net income margin of ...

According to a press release on Feb. 6, Renesas has reported full-year 2024 revenue at Â¥1,348.5 billion (about $8.86 billion) compared to Â¥1,469.7 billion, down by 8.24% year over year, for the year ended Dec. 31, 2024. The company reported its 2024 operating profit at Â¥397.9 billion, compared to Â¥501.6 billion last year, down by 20%. Net profit for the year was reported at Â¥360.4 billion. On Nov. 5, 2024, Renesas announced the launch of the new RA8 entry-line microco...

Lear has reported an 11.5% year-over-year decline in net income to $506.6 million in the financial year ended Dec. 31, 2024, as net sales fell marginally to $23.3 billion. The US-based automotive seating and e-systems supplier recorded consolidated income before income taxes and equity in net income of affiliates of $739.2 million, down 5.7% year over year from $777.2 million in 2023. The company reported a $24 million drop in its core operating earnings to $1.1 billion. The company recorded ...

PPG has reported a 12.1% year-over-year decline in net income to $1.1 billion as net sales fell 2.4% year over year to $15.8 billion in the financial year ended Dec. 31, 2024. Despite lower sales, the US-based company recorded marginal growth in its income before income taxes to $1.9 billion compared with $1.7 billion in 2023. At $2.9 billion, adjusted EBITDA improved 2.9% year over year from $2.8 billion in 2023, resulting in an adjusted EBITDA margin of 18.1% compared with 17.1% in the...

In a press release on Feb. 4, Infineon has reported its first quarter of the fiscal year 2025 revenue at €3.424 billion, compared to â‚¬3.70 billion in the first quarter of 2024, with a segment result of €573 million, which translates to a segment result margin of 16.7%. Revenue in the Automotive segment decreased from €2,149 million in the final quarter of the 2024 fiscal year to €1,919 million in the first quarter of the 2025 fiscal year. The 11% decline in revenue was primaril...

The Bosch Group's business development has been negatively impacted by slower-than-expected growth in key markets, including electromobility, leading to underutilized capacity and high upfront expenditure for future technologies. Despite these challenges, Bosch aims to be a leading supplier in its business areas by 2030, targeting an average annual growth of 6-8% and a profit margin of at least 7%. The company is looking toward policy reforms in Germany and the EU to enhance competitiveness and ...

NXP Semiconductors NV has announced its financial results for the fourth quarter and the entire year of 2024, ended Dec. 31, 2024. The company experienced a decrease in revenue, with full-year 2024 revenue reaching $12.61 billion, marking a 5% decline from the previous year. Similarly, fourth-quarter revenue also fell by 9% year over year to $3.11 billion. Despite these declines, NXP President and CEO Kurt Sievers highlighted the company's resilience and solid performance throughout 2024, n...

Hankook Tire has reported a 5.3% year-over-year increase in consolidated sales to 9.4 trillion won (about $6.4 billion) in the financial year ended Dec. 31, 2024. Higher sales helped the South Korean tiremaker to record a 32.7% year-over-year growth in operating profit to 1.8 trillion won, translating into an operating profit margin of 18.7%, compared with 14.9% in the previous financial year. Hankook Tire attributed the strong growth in profit, despite a challenging global automotive bu...

In a press release announcement on Jan. 29, Wolfspeed reported its second-quarter 2025 consolidated revenue at $181 million, as compared to $208 million, down 15% year over year. “Since stepping into the Executive Chairman role in November, I have been acutely focused on aggressively pursuing our plans to achieve our financial and operational targets. Myself, the Board, and the management team have aligned on an operating plan driven by three key immediate priorities designed to put us...

As reported in a press release on Jan. 31, 2025, DENSO has reported its third-quarter 2025 revenue at Â¥5,288.4 billion (about $33.5 billion), a 1.2% decrease from the previous year ended Dec. 31, 2024, of its fiscal year ending March 31, 2025. The company's operating profit totaled Â¥401.6 billion, a 68.3% increase from the previous year. The company reported mixed financial performance in its third-quarter earnings, with a decline in revenue but an increase in operating profit, as conv...

Autoliv has recorded a 32% year-over-year increase in net income to $489 million in the financial year ended Dec. 31, 2024, despite witnessing a 0.8% year-over-year decline in net sales to $10.4 billion. The Sweden-based safety systems supplier recorded a 42% year-over-year growth in operating income to $979 million, which also drove up its operating margin by 280 basis points to 9.4%. Adjusted operating income at slightly over $1 billion was 9.5% year over year more than $920 million recorde...

Stanley Electric has reported a 5.8% year-over-year increase in net sales to ¥375.9 billion (about $2.4 billion) in the nine-month period of the current financial year 2024/25, ended Dec. 31, 2024. Higher sales helped the Japan-based lighting systems supplier to record a 20.2% year-over-year growth in operating profit to ¥32.9 billion and a 37.2% year-over-year increase in net profit to ¥19 billion. Sales in Stanley Electric’s Automotive Equipment Business increased 11.1% year over year ...

Tesla reported a significant decrease in profit for the final quarter of 2024, with earnings dropping to $2.3 billion from $7.9 billion the previous year, though the latter figure was boosted by a one-time tax benefit of $5.9 billion. This decline in profit, by 23% excluding the special gain, comes as competitors from China, Europe, and the United States make inroads into Tesla's leading position in the electric vehicle market. Despite this, Tesla saw a slight increase in sales, rising 2% to $25...

In 2024, Toyota Motor retained its position as the world's top-selling automaker for the fifth consecutive year, despite a 3.7% decrease in global group unit sales, totaling 10.8 million vehicles. This decline encompassed sales from its subsidiaries, the compact car manufacturer Daihatsu and truck manufacturer Hino Motors. A significant factor contributing to the downturn was a sharp decrease in sales within Japan, attributed to governance issues related to certification test procedures, particu...

Mobileye Global has reported 23% year-over-year decline in revenue to $490 million in the fourth quarter ended Dec. 31, 2024, mainly due to a 20% year-over-year reduction in EyeQ system-on-chip volume. In addition, lower average system price, $50 in the fourth quarter 2024, compared to $52.7 in the fourth quarter of 2023, also affected Mobileye’s revenue.    Lower revenue impacted Mobileye’s gross profit which fell 30% year over year to $241 million in the fourth quarter of 2024...

STMicroelectronics (STM) has reported US GAAP financial results for the fourth quarter ended December 31, 2024. STM reported fourth quarter net revenues of $3.32 billion, gross margin of 37.7%, operating margin of 11.1%, and net income of $341 million or $0.37 diluted earnings per share. Net revenues totaled $3.32 billion, representing a year-over-year (y/y) decrease of 22.4%. Year-over-year net sales to OEMs and Distribution decreased 19.8% and 28.7%, respectively. On a sequential basis, net re...

Adient has reported 5% year-over-year decline in revenue to $3.5 billion in the first quarter ended Dec. 31, 2024, mainly driven by lower vehicle production volume and unfavorable product mix. The US-based seating supplier recorded a 16% year-over-year drop in its earnings before interest and taxes to $93 million. Adient concluded the first quarter at breakeven, compared to net income of $20 million during the same period a year earlier.           Adjusted e...

Nidec Corp. has reported an 11.5% year-over-year increase in net sales to ¥1.94 trillion ($12.5 billion) in the first nine months of the financial year 2024/25, ended Dec. 31, 2024. Higher sales drove the company’s operating profit up by 5% year over year to ¥175.5 billion. However, Nidec witnessed a 4.7% year-over-year decline in profit before income tax to ¥182.5 billion. The company also recorded a 6.7% year-over-year decline in net profit to ¥134.6 billion. Sales in Nidec’s Automo...

Autoneum reported a slight improvement in its sales to CHF2.34 billion in the financial year ended Dec. 31, 2024, amid a challenging business environment when global light vehicle production fell by 1.1% year over year to 89.4 million units. Excluding currency translations, Autoneum’s sales increased 4.2% year-over-year. The company sales in 2024 were in line with its guidance of CHF2.3 billion to CHF2.5 billion. Autoneum's financial performance for 2024 also included a preliminary ear...

ChargePoint, a company specializing in networked solutions for charging electric vehicles, has reported a 10% year-over-year drop in revenue to $99.6 million in the third quarter ended Oct. 31, 2024. The revenue from networked charging systems saw a 29% decrease to $52.7 million, while subscription revenue increased by 19% to $36.4 million. The company improved its generally accepted accounting principles gross margin to 23% and its non-GAAP gross margin to 26%, both significant improvement...

In November, WeRide released its unaudited financial results for the third quarter and first nine months ended Sept. 30. Building upon its Nasdaq-listing momentum, WeRide has been pushing forward with its strategic goals in the autonomous driving sector, marked by significant technological and global partnership milestones. In October, WeRide introduced its GXR robo-taxi platform with Level 4 autonomous driving systems and Sensor Suite 5.6. WeRide's expansion strategy is evident in its strate...

Antolin reported a 10.2% year-over-year decline in sales to €3.17 billion in the first nine months of the current financial year ended Sept. 30, 2024, the company said in a press release. The lower sales reflected growing uncertainty in the global automotive market. In the July–September quarter of 2024 alone, global light vehicle production dropped by 4.9% year over year to 21.5 million, according to S&P Global Mobility data.    Sales increased in Asia by 4% year over year ...

Innoviz Technologies has reported third-quarter 2024 revenue at $4.5 million, an increase from $3.5 million in the same quarter the previous year. Operating expenses in the third quarter of 2024 were $26.0 million, a decrease of 6.4% from $27.8 million in the third quarter of 2023. Operating expenses for the third quarter of 2024 included $4.2 million of share-based compensation compared to $5.0 million in the third quarter of 2023. In the third quart...

Martinrea International Inc., a global and diversified automotive supplier specializing in lightweight structures and propulsion systems, has reported its financial outcomes for the third quarter ending Sept. 30, 2024. The period saw total sales reaching C$1.2 billion, with production sales amounting to C$1,167.3 million. Net income for the third quarter of 2024 decreased by 73.7% year over year to C$14.2 million, impacted by lower gross margin from reduced sales volume, foreign exchange fluctua...

Aisin has reported a 4.2% year-over-year decline in revenue to ¥2.3 trillion (about $15 billion) in the first half of the current financial year ended Sept. 30, 2024. The lower revenue impacted the company’s earnings with operating profit declining 38.1% year over year to ¥56.2 billion and profit before income taxes decreasing 81.9% year over year to ¥19.6 billion. Aisin concluded the first half with an 88.4% year-over-year decline in net profit to ¥8.1 billion. The company reported a 5...