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Visteon Sees Shortfall

It expects second-half sales to fall 10% from first-half levels.


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became the latest big auto parts supplier to slash second-half guidance as a result of production cutbacks by Detroit's Big Three.

Van Buren Township, Mich.-based Visteon said Tuesday it will miss previous guidance as second-half sales fall 10% from first-half levels.

On Aug. 1, Visteon reiterated its 2006 sales goal of $11 billion.

Visteon said CEO Michael F. Johnston and operating chief Donald J. Stebbins will tell investors at a JP Morgan conference in Paris that reductions to second-half customer production levels, changing vehicle mix, and other cost factors will challenge the company's financial results for the remainder of 2006.

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Visteon will discuss actions to respond to lower customer volumes, its three-year improvement plan and an update to its outlook for 2006 when it releases third-quarter financial results in late October.


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cut their financial guidance last week as a result of production cutbacks and layoffs in Detroit.