(Reuters) – German automobile and industrial distributor Continental on Monday decreased its gross sales help for the 2nd time this 12 months, condemning weak want in Europe and North America, additionally because it uploaded third-quarter core earnings over assumptions.
Continental at the moment anticipates gross sales for 2024 to be in between 39.5 and 42 billion euros ($ 42.9 and $45 billion), beneath the 40 to 42.5 billion euro selection it gave up August.
That was itself a minimize, with Continental stating weak want for vehicle in Europe and for tire substitute in North America.
Third- quarter core earnings, nonetheless, will be present in at 873 million euros, defeating assumptions in a company-compiled settlement by round 11%, with the corporate indicating price self-control and cost-cutting in its automobile division.
Continental launched activity cuts beforehand this 12 months in its automobile division.
($ 1 = 0.9333 euros)
(Reporting by Chiara Holzhaeuser and Louis van Boxel-Woolf, Editing by Friederike Heine)
