Turning to the next slide, here is the latest breakdown of our sales by region that illustrates the effectiveness of our globally balanced portfolio. These figures shift from quarter-to-quarter, but the important point here is that our regional diversification gives us a unique advantage in being able to create synergies and leverage our products and technologies across our market segments. Sales diversified by region and also by vehicle market and also by customer adds more stability to our business, which is important in an environment where volatility seems to be the norm anymore. This past quarter served as a great example. Although sales adjusted for currency effects in South America were down, they were up in every other region.That takes me to the second part of the slide, which is our current view of our regional markets. Bill will talk about our revised outlook in his remarks, so I won't go into too much detail here. As you can see, it's a rather mixed story across the regions. Second half demand in the North American commercial vehicle market has softened and Europe continues to pose considerable uncertainty. In Brazil, we expect a smaller second half rebound in commercial vehicle production now. And as such, we've lowered our full year production forecast for South America. Another factor across the regions is the ongoing impact of currency. Again, Bill will touch on this later, but let me add here that volatility in our markets is a fact of life. We're managing the business in a way that recognizes this volatility, while also staying focused on the factors that we do control. Our tenacious work on significantly reducing our breakeven point, coupled with our flexible operating structure provide assurance that Dana will remain strong in the event of a market downturn.
Dana Holding Management Discusses Q2 2012 Results - Earnings Call Transcript
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