European market downturn affects Lear Corporation's sales in 2012



Parts supplier Lear revealed that the company’s sales in 2012 may be lower than market expectations, mainly because it believes that European vehicle production will decline in 2012. Lear predicts that the company's sales in 2012 will be between $13.85 billion and $14.35 billion, which is lower than the industry analyst average of $14.74 billion.

In 2011, 40% of Lear's sales came from Europe. Lear said that according to an industry research agency's survey, in 2012, European car production may decline by 5%. Lear expects the company's operating profit in 2012 to be 740 million to 790 million U.S. dollars, capital expenditures of 425 million U.S. dollars.

Founded in 1917 in Detroit, USA, Lear Corporation is headquartered in Michigan, USA, and is the world's fifth-largest auto parts supplier. It has 330 branch offices in 32 countries. The company focuses on the design, manufacture and integration of automotive seating systems, dashboards, door panels, roof top systems, car carpets and sound systems, electronics and power distribution systems.

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