November 7, 2019 / 7:18 AM / 5 days ago

Rheinmetall warns of lower sales growth on auto industry woes

BERLIN, Nov 7 (Reuters) - German defence and automotive parts supplier Rheinmetall lowered its 2019 sales guidance on Thursday, citing the downturn in global car production.

The Duesseldorf-based company now expects sales to grow organically and before currency effects by slightly more than 1% after previously forecasting 4%.

For its auto sector, Rheinmetall expects a sales decrease by around 7%, having previously anticipated decline of between 2% and 3%, it said.

Reporting by Thomas Seythal; Editing by Tom Sims

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