Forvia : Deteriorated sentiment for 2024
EOFP bonds (Ba2/BB) have significantly outperformed since the beginning of the year (+9-15% total return vs. +6.0% for the BofA BB Euro index), reflecting higher-than-forecast global car production in 2023, continuing post-shortage earnings recovery and the success of the first asset divestment programme. Sentiment on the auto sector has further deteriorated sharply, however. First, demand is weakening amid macroeconomic difficulties, especially for electric vehicles, translating...Faurecia is an automobile equipment supplier based in France. Co.'s activities can be divided into four business units: Automotive Seating (design of vehicle seats, manufacture of seating frames and adjustment mechanisms, and assembly of complete seating units); Emissions Control Technologies (design and manufacture of exhaust systems); Interior Systems (design and manufacture of instrument panels, door panels and modules, and acoustic components); and Automotive Exteriors (design and manufacture of front ends and safety modules). Some of Co.'s customers are PSA Peugeot Citroen, VW Group, Renault-Nissan, Ford Group, BMW and GM Group.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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