BERLIN: German automotive supplier Continental expects sales to jump by almost half by 2020 on rising car production and demand for safety technology and electronic components.
Continental said on Thursday it expected global output of passenger cars weighing up to 6 metric tonnes to rise to as many as 105 million vehicles by 2020 from about 89 million this year.
Growing production could raise sales to more than 50 billion euros ($55.24 billion) by 2020 from 34.5 billion in 2014, the company said, also citing growing demand for safety technology and electronic components.
Chief Executive Elmar Degenhart said Continental had had a "pleasant" start to 2015.
The Hanover-based group raised its sales guidance for 2015 to take into account the integration of US-based Veyance Technologies.
Continental expects sales to grow by almost 9 percent to about 37.5 billion euros compared with a January target of more than 36 billion, including at least 1.3 billion euros from consolidating Veyance. The deal was closed in January.
Positive exchange rate effects could add an additional 1 billion euros to sales, the company said.
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