PARIS – Valeo has reported a third quarter increase in consolidated sales of 22 percent (+16 percent like-for-like). For the third quarter and first nine months of the year, the company has reported outperformance of original equipment sales versus global automotive production.

Following the meeting of its Board of Directors yesterday, Valeo presented its sales for the third quarter 2010. Total sales in the third quarter of 2010 were approximately $3.2 million, compared to approximately $2.6 million in the prior year period. OE sales increased from approximately $2.2 million in the third quarter 2009 to roughly $2.7 million in the third quarter 2010. Aftermarket sales in the third quarter of 2010 were approximately $500 million compared to $427 million in the third quarter of 2009.

CEO Jacques Aschenbroich, commented, "Valeo has shown, since the beginning of the year, original equipment sales growth higher than that of global automotive output in its main regions of production. This performance has been made possible by the implementation of our return to organic growth strategy, based on products designed to reduce CO2 emissions and on accelerated investment in Asia and in emerging countries. As demonstrated by our new 2010 operating margin level objective, we are confident in Valeo’s ability to meet and sustain the objectives we have set within the framework of our 2013 strategic plan."

In the third quarter 2010, global automotive production was up by 12 percent year-on-year, reaching 17.4 million vehicles, surpassing the pre-crisis level (based on 16.4 million vehicles in the third quarter 2007). This performance is mainly due to the dynamic Asian market, particularly the Chinese market (3.7 million vehicles in the third quarter 2010), automotive production in Europe and in North America remaining lower than the pre-crisis level for this period.

For more information about the Valeo Group, visit the company’s website.