Visteon, a technology solutions provider, reported net sales of $1,014 million for the second quarter of 2024, up from $983 million in Q2 2023. The increase was due to strong performance in digital cockpit and electrification products, despite lower customer production and recoveries from improved semiconductor supply. Visteon’s sales outperformed customer vehicle production volumes by 9%.
From January to June, Visteon products were launched on 41 vehicle models across 17 different OEMs. Key launches included a digital cluster for the Toyota Camry in North America and Japan, a center information display for the Mazda MX-30 crossover, and a digital cluster for the Porsche Macan SUV. There were also multiple launches across various Asian markets.
Visteon secured $3.1 billion in new business in the first half of the year, with nearly $1.8 billion from display wins. This includes a large curved OLED display for a luxury vehicle from a Japanese OEM and a dual display for an SUV from another Japanese OEM. Additionally, they won an audio infotainment and dual display system for an SUV from an Indian OEM.
“Visteon delivered strong sales in Q2, driven by high demand for our digital cockpit and electrification products,” said President and CEO Sachin Lawande. “We improved margins by focusing on operational and commercial discipline. We are addressing industry challenges and positioning the company for mid-term growth with strong new business wins.”
Due to reduced customer vehicle production in the second half and market dynamics in China, Visteon updated its full-year 2024 sales guidance to $3.85 – $3.95 billion. Visteon Corporation is a global automotive electronics supplier, headquartered in Van Buren Township, Michigan. The company designs, engineers, and manufactures innovative electronic products for vehicle manufacturers worldwide.
Visteon’s product portfolio includes digital instrument clusters, infotainment systems, head-up displays, and advanced driver assistance systems (ADAS). With a strong focus on technology and innovation, Visteon aims to enhance the driving experience and safety through cutting-edge solutions. The company has a global presence, with manufacturing and engineering facilities in key regions, enabling it to serve its customers effectively and stay at the forefront of the automotive electronics industry.
