French auto supplier Faurecia's sales slide on chips shortage - Reuters

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French car parts supplier Faurecia's logo is seen during the company's investor day in Paris, France, April 19, 2016. REUTERS/Charles Platiau

PARIS, Oct 26 (Reuters) - French car parts maker Faurecia (EPED.PA) on Tuesday reported third-quarter sales down over 10% from a year ago, as its customers cut production due to a global shortage in semiconductor chips.

The group, which supplies car seats, dashboards and fuel systems to automakers, reported sales of 3.43 billion euros ($4 billion) compared to the 3.82 billion euros in posted in the same period of 2020.

It confirmed its financial guidance for 2021, which it had cut in September due to new forecasts on a global shortfall in automotive production. read more

($1 = 0.8593 euros)

Reporting by Sarah Morland; Editing by Sudip Kar-Gupta

Our Standards: The Thomson Reuters Trust Principles.

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