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Valeo's Q1 China revenue soars on volume from domestic automakers
Automotive News China | 2017/5/9

Valeo SA said its revenue in China surged 25 percent year on year to 564 million euros (4.3 billion yuan) in the first three months on strong sales to Chinese automakers.

Domestic Chinese automakers accounted for 40 percent of the French supplier's sales -- 10 percentage points higher than a year earlier.

Valeo's growing business with Chinese automakers insulated the company from sharp sales declines suffered by many foreign automakers -- such as General Motors and Volkswagen AG -- after China raised taxes on vehicles with small engines.

By contrast, Chinese carmakers such as Geely Automobile Holdings and Great Wall Motor Co. maintained robust sales growth on demand for their crossovers.

As a result, light-vehicle sales by Chinese brands rose 6.5 percent year on year in the first quarter, 1.9 percentage points higher than the industry average.

Valeo has 30 plants, 13 r&d centers and 18,000 employees in China. 

Worldwide, Valeo's first-quarter sales to automakers increased 13 percent from a year earlier to 4.2 billion euros.

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