Delphi Sees Growth Fueled by Chinese Demand for Connected Cars

Consumer demand in China for cars that connect to the Internet could drive growth in Asia Pacific for Delphi Automotive plc, Bloomberg News reports.

Chief Technology Officer Jeffrey Owens tells the news service he expects the company's revenue in the region will account for 28% of Delphi's total in 2017 compared with 23% in 2014.

The average age of a new-car buyer in China is 33, younger than any other major market, Bloomberg says, citing data from J.D. Power and Associates. Owens says young car buyers are more interested in the "user experience," particularly connection to the Web, than vehicle styling and road performance.

Owens reiterates that Delphi is looking for technology acquisitions related to its electronics, powertrain and safety products. Last month CEO Kevin Clark said the company may spend as much as $3 billion on such investments this year, including one acquisition worth at least $1 billion.