October 26, 2018 / 10:17 AM / 19 days ago

Autoliv cuts 2018 growth forecast on weakness in China and Europe

STOCKHOLM, Oct 26 (Reuters) - Sweden’s Autoliv , the world’s largest maker of airbags and seatbelts, cut its full-year organic sales growth forecast on Friday, citing lower demand in China and a negative emission-test related impact on car production in Europe.

The company, which competes with Joyson Safety Systems and ZF TRW, forecast organic sales growth of around 6 percent this year compared with a mean forecast of 6.5 percent in a poll of analysts and its own previous outlook of 8 percent.

Its third-qaurter operating profit rose to $193 million from $167 million a year ago, lagging the $205 million forecast in a Reuters poll of analysts. (Reporting by Johannes Hellstrom; editing by Niklas Pollard)

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