Standard Profil - comment

Other auto suppliers are also starting to feel the pinch due to the continued slowdown of electrification and lower production forecasts for H2.  Forvia has reduced its sales guidance driven by delays in Starts of Production (SOPs) by OEMs .  The delays are due to current market conditions and launch readiness issues and these delays will also impact Standard Profil. 

Separately, Moody’s has downgraded Valeo SE to high yield, again driven by the weaker automotive market, lower and more volatile production volumes and poor consumer sentiment.  All of these factors will weigh on the overall auto sector.