“The situation is not at all surprising because, of the analyzed companies, most produce parts for other producers in the EU as well, such as Michelin and Takata. Profits were registered in the first seven months of 2008, when most parts producers did well and had orders, while the losses were registered in the last three months, when declines were dramatic,” Constantin Stroe, the Head of the Association of Automotive Manufacturers of Romania (ACAROM) and Vice President of Dacia, told Business Standard.
While only three players posted losses in 2007, in 2008 Michelin, Takata Petri, Pirelli, and Yazaki were in the red. The largest losses were reported by the Michelin Romania tire producer, of RON 119 mln (€32 mln), after a RON 62 mln (€18.6 mln) profit in 2007.
The net sales of the top 13 companies in the car parts industry amounted to €2.48 bln in 2008, compared to €2.2 bln in 2007.
