Visteon considers sales of automotive lighting components and interiors

Recently, industry sources revealed that Visteon is considering selling its less profitable automotive lighting components and interiors business to focus on the rapidly growing Asian market. It is understood that automotive lighting and interior business last year brought Vodafone $2.7 billion in revenue.

It is reported that Visteon’s automotive interior business had a revenue of US$2.2 billion last year and a gross profit margin of 6%. Its automotive lighting system business revenue was US$456 million and its gross profit margin was 2.6%. Visteon CEO Don Stebbins has hired Goldman Sachs to conduct a wide range of strategic investigations. Visteon’s board members are consulting companies such as JPMorgan Chase and Citigroup to list companies that are interested in buying and meeting relevant conditions.

Visteon has more than 10 years of business development in the Asia Pacific region. At present, Visteon has more than 30 manufacturing plants in China, Japan, South Korea, Thailand, the Philippines, and India, and can provide services to the global and regional automotive aftermarket. In the world's fastest growing Asia-Pacific auto market, Visteon is a leader in automotive air conditioning, interiors and electronic systems.

Since the opening of the Chinese market in 1993, Visteon has worked extensively with major automakers in China and has rapidly developed into Visteon Asia Pacific (Shanghai) Co., Ltd. and a dozen large-scale joint ventures (Yanfeng Visteon, Dongfeng Visteon, etc.). It covers a wide range of automotive component products such as dashboards, seats, bumpers, and air conditioning systems and automotive electronics systems. In line with the rapid development of its business in China, Visteon Asia Pacific headquarters moved to Shanghai and established the Asia Pacific Procurement Center and China R&D Center.