| 1:36 AM EST

Valeo Warns of New Cost Cuts

#Valeo #europe


Facebook Share Icon LinkedIn Share Icon Twitter Share Icon Share by EMail icon Print Icon

Paris-based parts supplier Valeo SA is developing a new cost-cutting budget for 2019 to follow €100 million ($115 million) in reductions imposed last year.

Valeo CEO Jacques Aschenbroich tells the Financial Times that new measures will be necessary to counter record-high volatility in the market. He says the company is in the budget phase of determining the size of the cutback.

Last year Valeo issued two profit warnings and saw its stock price plummet 59%. The company has been hurt by China’s sagging car market, which analysts believe contracted in 2018 for the first time in six years.

Related Topics


  • Suzuki Refines Hayabusa Engine

    When Suzuki developed the GSX1300R, it set out to build the fastest mass-production motorcycle on the market. As competitors gained ground and stringent emission regulations were set, Suzuki set out to reinvent the bike.

  • 2016 Prius: The Fourth Generation

    The little car that could still can. And this time as a car that not only gets great fuel economy, but which has ride and handling that makes it more than an econo-box (and its styling is anything but boxy).

  • Nio Plant Venture Lands $1.5 Billion Investment

    Chinese electric-car startup Nio Inc. is forming a manufacturing joint venture with Beijing E-Town International Investment and Development Co., which is investing 10 billion yuan ($1.5 billion) in the business.