Continental expects drop in European and North American car output in third quarter
1:27 pm Tuesday, October 08th, 2024
(Corrects paragraph 2 to show that profitability is expected to improve in the automotive business, not the whole company)
BERLIN (Reuters) – German automotive supplier Continental said on Tuesday that it expected global production of passenger cars and light trucks in the third quarter to fall more 3% from the second quarter but Chinese output to grow at about 4% with Chinese carmakers increasing market share.
Continental expected profitability in its automotive business to improve in the third quarter despite lower sales, it said.
(This story has been corrected to show that profitability is expected to improve in the automotive business, not the whole company, in paragraph 2)
(Reporting by Victoria Waldersee; Editing by David Goodman)
