Published

Nexteer Posts First-Half Gains in Revenue, Profits

Nexteer Automotive Group reports its revenue grew 4% to $2 billion, and net profit jumped 11% to $200 million in the first half of 2018.
#economics

Share

Nexteer Automotive Group Ltd. reports its revenue grew 4% to $2 billion, and net profit jumped 11% to $200 million in the first half of 2018.

The steering, driveline and driver assist systems supplier says its operating profit for the period was unchanged at $240 million. The company’s backlog of booked business expanded 4% to $24.9 billion over the period.

Nexteer says its revenue in January-June rose 3% to $1.3 billion in North America, 1% to $418 million in Asia Pacific and 14% to $286 million in Europe, the Middle East and South America.

The supplier considers software, electronics and vehicle integration as key differentiators for its products. The company is heavily focused on the development of advanced driver assist systems, steer-by-wire and other innovations related to self-driving vehicles.

RELATED CONTENT

  • Enterprise Edges into Self-Driving Car Market

    U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.

  • China and U.S. OEMs

    When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.

  • Tariffs on Autos: “No One Wins”

    While talk of tariffs may make the president sound tough and which gives the talking heads on cable something to talk about, the impact of the potential 25 percent tariffs on vehicles imported to the U.S. could have some fairly significant consequences.

Gardner Business Media - Strategic Business Solutions