Visteon, a provider of technology solutions, reported net revenues of $1,014 million in Q2 2023, up from $983 million in Q2 2023. The robust performance of the digital cockpit and electrification products was the main driver of the growth in net sales. Sales for Visteon exceeded customer vehicle manufacturing quantities by 9 per cent.
Visteon products were introduced on 41 car models between January and June, spanning 17 different OEMs. A digital cluster for the Toyota Camry in the North American and Japanese markets was one of the major releases of the second quarter. The company also debuted a centre information display for the Mazda MX-30 crossover and a digital cluster for the Porsche Macan SUV. In the first half of the year, it brought in $3.1 billion in additional income, of which over $1.8 billion came from display wins.
New business wins with OEMs in Rest of Asia totaled over $1.8 billion. A huge, curved OLED panel for a premium vehicle platform for a Japanese OEM and a dual display for an SUV for another Japanese OEM were among the noteworthy display victories from the second quarter.
According to President and CEO Sachin Lawande, the company’s excellent sales performance in the second quarter was fueled by increased demand for digital cockpit solutions that are independent of powertrains and the acceleration of electrification initiatives.
