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Autoliv Predicts a Surge in Its Airbag Business
Autoliv Inc. says its sales should jump from $10.1 billion last year to more than $12 billion by 2019 as it gains airbag orders from former customers of struggling supplier Takata Corp.
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Autoliv Inc. says its sales should jump from $10.1 billion last year to more than $12 billion by 2019 as it gains airbag orders from former customers of struggling supplier Takata Corp.
CEO Jan Carlson tells Reuters the surge will offset heavy spending by the company over the past year. The news service says analysts have fretted over the short-term impact on Autoliv’s bottom line.
Among other investments, the company has hired about 1,000 engineers to help it pick up orders from carmakers who have been forced to recall millions of vehicles equipped with Takata airbag inflators. The Takata devices, blamed for at least 16 deaths, can explode when triggered by a crash.
Reuters says analysts have been skeptical about a profit rebound for Autoliv, pointing to a likely decline in global car production in the next several years. Autoliv’s stock price is about 10% below last year’s average.
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