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Autoliv Profits Rise 9%
Strong demand for replacement airbag inflators linked to Takata Corp. airbag recalls helped boost net income for Autoliv Inc. 9% to $148 million in the second quarter of 2016.
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Strong demand for replacement airbag inflators linked to Takata Corp. airbag recalls helped boost net income for Autoliv Inc. 9% to $148 million in the second quarter of 2016.
Revenue for the period jumped 13% to $2.6 billion. CEO Jan Carlson notes the company also notched gains in seatbelt and safety electronics products. He predicts full-year sales in 2016 will surpass the company’s $12 billion target for 2020.
Autoliv says it expects to deliver 30 million replacement inflators between 2015 and 2018. More than a dozen carmakers so far have recalled roughly 100 million Takata inflators that can misfire and blast metal shards into the passenger compartment.
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