At a presentation on 28 April 2003, auto supplier Visteon gave journalists a glimpse of its latest high-tech product concepts, evidence of the company“s shift away from stagnant earners such as glass…
At a presentation on 28 April 2003, auto supplier Visteon gave journalists a glimpse of its latest high-tech product concepts, evidence of the company“s shift away from stagnant earners such as glass, steering columns and seats. The company is focusing on areas where it sees the greatest potential for sales and profits, areas such as climate systems, instrument panels, headlights, in-vehicle electronics. “We“re really focusing on growth areas,” said John Kill, the company“s vice president of product development. I n 2002, Visteon“s electronic product and system sales grew 1.6% to USD 2.2 billion from 2001. Sales at its interior products and systems unit went up 13.5% in 2002 to USD 3.9 billion. In addition to Visteon“s expansion into leading-edge technologies, the company also continues to look for business beyond former parent, Ford Motor Co., which remains its largest customer. Visteon was spun off from Ford in June 2000. Earlier in April 2003, the company reported a 1Q loss of USD 15 million, or USD 0.12 a share, down from the loss of USD 338 million, or USD 2.63 a share, for the same quarter 2002.