Aug 14, 2023

Continental Fights for Price Rises to Keep Costs in Check

Continental (CONG.DE) said it was fighting for price increases in negotiations with customers and seeking ways to further cut inventory to improve its automotive business performance.

The German auto parts supplier is betting on higher pricing and a focus on premium products to compensate for a declining market in its tyres sector in North America and Europe, which together make up around 70% of its total sales.

Chief Financial Officer Katja Duerrfeld said she did not expect Continental to return to pre-COVID levels of working capital, adding on Wednesday’s earnings call that she forecasts it will fall by around 10% from current levels. …

Source: Reuters

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