Valeo’s Q1 revenue experienced an 8% yoy contraction, driven by declining OEM, Valeo’s largest division. As expected, Asia took the heaviest blow, though saw some relief during the latter part of March. China’s OEM contracted the most in Asia, followed by South Korea. In contrast, Europe and North America experienced increased signs of uncertainty during late March/early April. Due to such market development and the deterioration of Valeo’s largest geographical markets
28 Apr 2020
Western OEM set to go through APAC-like contraction
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Western OEM set to go through APAC-like contraction
Valeo’s Q1 revenue experienced an 8% yoy contraction, driven by declining OEM, Valeo’s largest division. As expected, Asia took the heaviest blow, though saw some relief during the latter part of March. China’s OEM contracted the most in Asia, followed by South Korea. In contrast, Europe and North America experienced increased signs of uncertainty during late March/early April. Due to such market development and the deterioration of Valeo’s largest geographical markets