This post is part of a series of posts called “Company Notes.” These posts contain quotes and exhibits from earnings calls, conference presentations, analyst days and SEC filings. The quotes are generally pieces of information that I find interesting or helpful to understanding the company, industry or economy and are not meant to provide summaries of the full content of the call. Other posts in this series can be found by clicking here. Full transcripts can be found at Seeking Alpha.
“the current outlook for 2013 light vehicle production, which is unchanged from our previous view. We expect global production volumes to be up approximately 1% from 2012. In North America, we expect production volumes to be up 3% for 2012. Europe down 3%. China up 10%. And Japan, down 10%.”
“In China, we now expect to see a double-digit decline in commercial vehicle production in 2013 compared to 2012. Our original expectation was flat; however, we’ve seen some weak in demand that has caused to lower our expectations. ”
” you do see a trend to more localization efforts. And I think that’s not driven purely by the yen movement, that’s the result of some of the natural disasters that were suffered there. So I think that’s a been playing out over the last year or so where we’re seeing, particularly in North America, the Japanese OEMs looking to increase local content and I think that’s playing out in that.”