Continuing problems for the European automotive industry mean French automotive supplier Valeo has cut down annual sales forecasts for the second time in 2013. A sluggish Chinese economy and uncertainty over an EV transition were blamed for the decision, according to the company.

CEO Christophe Perillat voiced concern over the market overall but said Friday that it’s softer than expected in all regions. “The market is softer than anticipated in all geographical areas, for different reasons; so we see a market that is softer, and for reasons in the way,” he said.

High production costs, a complex transition to electric mobility, declining demand, and yielding to competition of the Chinese manufacturers have already become some of the difficulties that European automotive industry is struggling with. Delayed product launches and ongoing uncertainty about EV adoption are to blame, but Valeo warned these factors could exacerbate delays in the production of automobiles around the world.

Valeo now says sales will fall short of about 21.3 billion euros (USD 23 billion) in 2024, down from an earlier forecast of 22 billion euros. While lower sales forecast, the company has stuck to its margin and free cash flow guidance for the year.

Valeo, in its latest financial results, said sales fell 5 percent to 5 billion euros (USD 6.57 billion) in the July-September quarter, missing analysts' estimates in a company compiled consensus of 5.1 billion euros. Specialising in vehicle component design and manufacturing — including electric models — the firm has grappled with product delays by its customers.

But Valeo is not alone: like the French rival it, Forvia booked a drop in third-quarter sales, blaming the slump on weaker Chinese demand and tougher competition from local producers.

As the European auto sector navigates these turbulent times, stakeholders will be closely monitoring Valeo's strategies and performance in the months ahead.

Continuing problems for the European automotive industry mean French automotive supplier Valeo has cut down annual sales forecasts for the second time in 2013. A sluggish Chinese economy and uncertainty over an EV transition were blamed for the decision, according to the company.

Continuing problems for the European automotive industry mean French automotive supplier Valeo has cut down annual sales forecasts for the second time in 2013. A sluggish Chinese economy and uncertainty over an EV transition were blamed for the decision, according to the company. CEO Christophe Perillat voiced concern over the market overall but said Friday that it’s softer than expected in all regions. “The market is softer than anticipated in all geographical areas, for different reasons; so we see a market that is softer, and for reasons in the way,” he said. High production costs, a complex transition to electric mobility, declining demand, and yielding to competition of the Chinese manufacturers have already become some of the difficulties that European automotive industry is struggling with. Delayed product launches and ongoing uncertainty about EV adoption are to blame, but Valeo warned these factors could exacerbate delays in the production of automobiles around the world. Valeo now says sales will fall short of about 21.3 billion euros (USD 23 billion) in 2024, down from an earlier forecast of 22 billion euros. While lower sales forecast, the company has stuck to its margin and free cash flow guidance for the year. Valeo, in its latest financial results, said sales fell 5 percent to 5 billion euros (USD 6.57 billion) in the July-September quarter, missing analysts' estimates in a company compiled consensus of 5.1 billion euros. Specialising in vehicle component design and manufacturing — including electric models — the firm has grappled with product delays by its customers. But Valeo is not alone: like the French rival it, Forvia booked a drop in third-quarter sales, blaming the slump on weaker Chinese demand and tougher competition from local producers. As the European auto sector navigates these turbulent times, stakeholders will be closely monitoring Valeo's strategies and performance in the months ahead.

Valeo lowers sales forecast amid European automotive sector challenges

Auto tech giant Valeo, and Seeing Machines, which specialises in AI-based operator monitoring systems, have partnered with the view of consolidating operations in the driver and OMS market. This cooperation entails the migration of Valeo’s driver monitoring perception software proceedings from Asaphus, which it acquired, to Seeing Machines. The integration of this software into its solutions will help Seeing Machines to strengthen its position in interior monitoring perception software necessary for the automotive industry in the new changing regulations.

The action lets Valeo leverage Seeing Machines’ knowledge of perception software, further embedding it into tailor-made monitoring systems’ hardware and software. This outlook aligns the two corporations to cater for the higher demand through new regulations that will be set to every vehicle to contain enhanced interior sensing features.

From the venture of Seeing Machines, the collaboration is a way of growing its reach within Europe since Valeo has a related set up and a Berlin based team. Asaphus’ capabilities add into Seeing Machines’ technology that incorporates into the development of machine learning and AI regarding driving and sensing added to the company’s pool of data and IP. The integration with Gauss will fast-track Seeing Machines’ product development plan, thereby strengthening its position in driver and occupant monitoring systems domain.

Also Read:&nbsp;<a href="https://www.wionews.com/autonews/eu-mandates-speed-limit-warnings-in-minis-rule-coming-to-us-too-739523">EU mandates speed limit warnings in MINIs; rule coming to US too</a>

Valeo Brain Division’s chief executive officer Marc Vrecko also showed interest in the partnership with Asaphus and Valeo’s expansion as a result of the cooperation and the ability to incorporate innovative perception software. With this integration, both companies are hopeful of bringing better solutions that will help them have a stronger stand in the automotive safety systems market.

The two chairmen, Vrecko and Paul Mc Glone, of Seeing Machines and Autonet Mobile, respectively, had a similar sentiment agreeing that both companies had a lot in common, and had similar goals, particularly concerning interior sensing technology. As more countries in EU issue specific driving regulation mandates for DMS, Seeing Machines is set to deploy safety and convenience in delivering solutions to clients in the automotive industry.

This common mission of developing new interior sensing technologies for increasing traffic safety and improving the comfort of automobile passengers unites Valeo and Seeing Machines. This partnership means a new level of fulfilling the necessary legal obligations and developing innovations in the automotive industry for building safer and smarter automobiles on the roads. 
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Auto tech giant Valeo, and Seeing Machines, which specialises in AI-based operator monitoring systems, have partnered with the view of consolidating operations in the driver and OMS market.

Auto tech giant Valeo, and Seeing Machines, which specialises in AI-based operator monitoring systems, have partnered with the view of consolidating operations in the driver and OMS market. This cooperation entails the migration of Valeo’s driver monitoring perception software proceedings from Asaphus, which it acquired, to Seeing Machines. The integration of this software into its solutions will help Seeing Machines to strengthen its position in interior monitoring perception software necessary for the automotive industry in the new changing regulations. The action lets Valeo leverage Seeing Machines’ knowledge of perception software, further embedding it into tailor-made monitoring systems’ hardware and software. This outlook aligns the two corporations to cater for the higher demand through new regulations that will be set to every vehicle to contain enhanced interior sensing features. From the venture of Seeing Machines, the collaboration is a way of growing its reach within Europe since Valeo has a related set up and a Berlin based team. Asaphus’ capabilities add into Seeing Machines’ technology that incorporates into the development of machine learning and AI regarding driving and sensing added to the company’s pool of data and IP. The integration with Gauss will fast-track Seeing Machines’ product development plan, thereby strengthening its position in driver and occupant monitoring systems domain. Also Read: EU mandates speed limit warnings in MINIs; rule coming to US too Valeo Brain Division’s chief executive officer Marc Vrecko also showed interest in the partnership with Asaphus and Valeo’s expansion as a result of the cooperation and the ability to incorporate innovative perception software. With this integration, both companies are hopeful of bringing better solutions that will help them have a stronger stand in the automotive safety systems market. The two chairmen, Vrecko and Paul Mc Glone, of Seeing Machines and Autonet Mobile, respectively, had a similar sentiment agreeing that both companies had a lot in common, and had similar goals, particularly concerning interior sensing technology. As more countries in EU issue specific driving regulation mandates for DMS, Seeing Machines is set to deploy safety and convenience in delivering solutions to clients in the automotive industry. This common mission of developing new interior sensing technologies for increasing traffic safety and improving the comfort of automobile passengers unites Valeo and Seeing Machines. This partnership means a new level of fulfilling the necessary legal obligations and developing innovations in the automotive industry for building safer and smarter automobiles on the roads.

Valeo partners Seeing Machines for advanced driver-occupant monitoring solutions

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