Worldwide, Aptiv said it expects vehicle production to be down 4 percent for the first half of 2019 and 2.5 percent for the full year. For North America, which accounts for about 39 percent of Aptiv revenue, the company expects production to be down 3 percent in the first quarter and down 2 percent for the year. In contrast, Aptiv expects its revenues in North America to increase by a similar margin.
Production in China, a market that accounts for about 19 percent of Aptiv revenue, is expected to fall more steeply, down 11 percent in the first quarter and down 8 percent for the year, the company said.
Clark said Aptiv would be “prudent” in its spending plans in China.
“While we will continue to experience strong revenue growth over market in this region, driven by double-digit growth in our key product areas, including active safety, infotainment and high-voltage electrification, we’re preparing for structurally lower industry volume going forward,” he said.