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Autoliv sees raw material cost rise of $38 mln in 2017
April 28, 2017 / 11:45 AM / 7 months ago

Autoliv sees raw material cost rise of $38 mln in 2017

April 28 (Reuters) - Autoliv,, the world’s biggest maker of airbags and seatbelts, is expecting higher raw material costs this year than previously forecast, Chief Executive Jan Carlson told Reuters after the firm posted earnings above expecations on Friday.

* Says sees raw materials cost increase of $38 mln in 2017, vs $31 mln forecast given in February.

* Says on growth in active safety business: “If you take our core radar and vision business, that business grew around 15 percent in the quarter, while it was around 3 percent for the whole of active safety”.

* Says dampening effect on active safety growth from ramp-down and phasing out of products, including internally developed brake control system. Effect will be seen throughout 2017.

* Autoliv said in Friday’s earnings report it currently sees some uncertainties relating to light vehicle production growth, including high inventory levels and slower sales momentum, especially in North America and China.

“What we are saying is that when it has gone this far in the business cycle, one needs to be on the alert,” Carlson told Reuters.

Reporting by Johannes Hellstrom

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