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26th of May 2018

Automotive



Faurecia lays out plans for steady sales growth based on tech

PARIS -- French car parts group Faurecia outlined plans on Tuesday to increase its sales via growth in areas such as autonomous driving and other growing automotive trends.

Faurecia, 46 percent owned by PSA, said it was targeting sales growth of more than 7 percent per year to reach 20 billion euros ($23.8 billion) by 2020, compared with $20.2 billion in 2017.

The company's 2020 financial targets also include an operating margin of 8 percent of sales and net cash flow of 4 percent of sales. Faurecia aims to achieve $35.8 billion in sales by 2025.

"Faurecia's strategy is perfectly aligned with the four automotive megatrends: connectivity, autonomous driving, ride-sharing and electrification," CEO Patrick Koller said in a statement.

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