Visteon predicts steady automotive market in 2025

US tier one supplier Visteon is anticipating a stable business outlook in the automotive market for 2025, despite the ongoing growth in digital technologies and electrification. In 2024, Visteon reported sales of $3.866 billion, a slight decrease of 3.3% from the previous year's $3.95 billion. However, the company projects a further decline in sales for 2025, estimating figures to fall between $3.65 billion to $3.85 billion. This forecast for 2025 does not factor in any potential impact from tariffs or a global trade war, which could potentially affect the company's performance.

Despite the drop in sales, Visteon managed to outperform production at its customers by 4% globally and by 9% outside of China. This achievement was attributed to the successful ramp-up of recent product launches and the strong performance of electrification products. The company's profits for 2024 totaled $274 million, a 43% decrease from the previous year's $486 million, primarily due to a $313 million tax hit.

“Visteon delivered strong financial performance in 2024 with market outperformance, margin expansion, and cash generation. We also made significant progress on our strategic initiatives, including strong new business wins and a high number of launches with Japanese, Indian, two-wheeler, and commercial vehicle OEMs,” said President and CEO Sachin Lawande. Lawande highlighted the company's momentum in securing new business wins, totaling over $6 billion, and expanding the product portfolio with innovative offerings like the on-board charger with DC-DC converter and SmartCore HPC.

Visteon secured $6.1 billion in lifetime sales through new business wins across various product categories. Notable design wins included clusters worth $1.1 billion, SmartCore and infotainment systems valued at $1.5 billion, displays totaling $2.6 billion, and electrification deals amounting to $700 million. The company strengthened its relationship with Toyota, secured its first cockpit win with Maruti Suzuki, and clinched multiple large multi-display wins with OEMs in Europe and Asia.

In 2024, Visteon introduced 95 new products and ventured into software-defined vehicles in the premium market, alongside increased digitalization in passenger vehicles, commercial vehicles, and two-wheeler markets. Key launches included digital clusters on the Honda e:NP1 electric vehicle in China, a TVS two-wheeler scooter in India, the Ford Maverick with ICE and hybrid powertrain options, and the Citroen C4 with ICE and electric powertrain options. Additionally, Visteon unveiled a multi-display module on the Nissan Murano and a battery management system on the all-electric Jeep Recon.