Strategy / 19/04/2013
Faurecia to double China business by 2016
The Group's development is based on a broad engineering and production footprint covering all the country’s major automotive regions. Faurecia will continue to develop a portfolio of technologies specifically tailored to the needs of Chinese consumers.
Favorable market trends for Faurecia
In 2012, Faurecia continued its rapid development in China with a sales growth of 25% to reach € 1.5 billion, outpacing by far the market growth of 8% last year. China now accounts for 80% of Group sales in Asia.
By 2016, the development of the Chinese market in volume and value is extremely favorable for Faurecia:
- The market will continue to grow at a steady pace, with vehicle production expected to rise from 16 to 25 million units between 2012 and 2016.
- The premium segment will continue to grow faster than the market. The interior systems activity, which is already today a key partner for their global programs, is ready to support the upcoming launches of its major customers in China.
- More than 90% of Faurecia sales in China is generated with the world's leading manufacturers that dominate the Chinese market and whose positions are expected to be maintained. Faurecia intends to continue developing its business with Chinese own brands, of which Chang’an, Geely and Great Wall.
- The market for emissions control will continue to grow faster than vehicle production, thanks to the convergence of local emission standards with European standards. The emissions control business has a leading position in the country, with a 25% market share. China will also tomorrow be the largest market for commercial vehicles, a segment in which the Group relies on its contracts with major manufacturers such as Cummins and Scania. This business also intends to develop selectively with Chinese manufacturers including Chang'an, Chery, FAW, Geely and SAIC.
- The interior systems and automotive seating activities will also continue to expand, particularly through joint ventures in order to strengthen their respective positions with both international and Chinese automakers whose vehicles are starting to occupy a significant market position in the Chinese automotive market.
Sur le même thème
Strategy / 19/07/2017Faurecia announced today that it had taken a majority share in the Chinese company Jiangxi Coagent Electronics for a total investment of 1.45 billion RMB (193 million euros).+
Strategy / 04/07/2017
Faurecia signs a new joint venture with Dongfeng Motor Corporation and expands partnership to Faurecia Clean MobilityFaurecia today signed a joint venture agreement for its Clean Mobility business with Dongfeng Motor Parts & Components Group CO., Ltd in Wuhan.+