Forvia expects its sales to come between 26.8 billion and 27.2 billion euros ( USD 29.9 billion and USD 30.4 billion) this year, instead of the lower end of 27.5 billion to 28.5 billion euros it had forecast in July. It sees an operating margin of 5.0% to 5.3% of sales, versus 5.6% to 6.4% initially.
It cited uncertainty in Europe largely due to the continued slowdown in electrification, high level of car inventories in North America and increasing risks of labour disruptions as the main reasons for the cut.
Forvia last cut its annual targets in July amid lagging global auto demand and a slowdown in electrification.
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