STOCKHOLM, Sept 19 Car safety equipment maker
Autoliv said on Wednesday its market in
Europe has so far been worse than anticipated in the third
quarter, while the U.S. market has been better than expected.
The company, listed in both Sweden and the United States, in
July reduced its forecasts for full-year 2012 sales and
profitability after reporting second quarter earnings which just
Autoliv spokesman Mats Odman said U.S. listing rules
prevented him from repeating the earlier company forecast for
the third quarter, which was for a fall in consolidated sales of
3 percent and an operating margin of about 10 percent.
"The fact that we have not done anything (with the forecast)
should be an answer to your question. Additionally, I am saying
that it is worse in Europe, but better in the United States.
Everyone can draw a reasonable conclusion about what that
means," he said.
New car registrations fell 8.9 percent in the European
Union, according to statistics from industry body ACEA, while
the U.S. market has developed better than car industry bodies
expected, Odman said.
"So there are both ups and downs, but these are difficult
times in which to make predictions," he said.
He said car maker plant shutdowns in China due to a
Japanese-China diplomatic dispute would have little impact as
China was just 14 percent of total turnover.
Swedish steel maker SSAB earlier this week warned it would
make a loss in the third quarter due to falling global demand.
(Reporting by Helena Söderpalm, editing by Patrick Lannin)