Delphi says Asia sales grew 30 pct in Jan-May
Thursday July 10, 3:35 am ET
biz.yahoo.com
TOKYO, July 10 (Reuters) - Delphi Corp (NYSE:DPH), the world's largest automotive parts supplier, said on Thursday its Asia-Pacific sales grew 30 percent in the first five months of this year from a year earlier, beating its estimate.
Behind the solid growth, which exceeded 22 percent annual growth in 2002 in the region, was robust demand in China, Delphi Chief Executive Officer J.T. Battenberg told reporters in Tokyo.
Delphi, which was spun off by General Motors Corp (NYSE:GM) in 1999, saw its China sales grow more than 30 percent in each of the last two years and strong demand for its engine management system and other products continue to boost its sales despite the Severe Acute Respiratory Syndrome (SARS) scare, he said.
"SARS did impact on (China's vehicle sales) growth, but in a very positive way," Battenberg said.
Consumers bought vehicles earlier to avoid exposure to SARS on public transport, leading to an 88 percent rise in the Chinese passenger car market so far this year, he said.
"Delphi is outpacing the rate of vehicle production growth, indicating Delphi continues to gain market share in the fastest growing market," Battenberg said. |
