Valeo cuts sales forecast for 2024 and 2025 but maintains profit margin target

Affected by the slowdown in electrification and the sluggish European and Chinese markets, French auto parts maker Valeo lowered its sales forecast for 2024 and 2025 on July 25. Despite the challenges, the company has maintained its two-year profit margin target by implementing cost-cutting measures. In the first half of this year, Valeo's sales were 11.11 billion euros, down 1% year-on-year.