Germany's Continental forecasts strong Asian sales

7th August 2011, Comments 0 comments

German auto parts giant Continental expects a strong boost in sales in Asia in the next four years, chief executive Elmar Degenhart said in an interview published Sunday.

Degenhart told Automotive News Europe that after a 45-percent leap in sales in China last year to two billion euros ($2.9 billion), its automotive group's Asian turnover made up 21 percent of its total or about four billion euros.

"I think the automotive group can achieve in Asia a 30-percent share of sales by 2015," he said.

"The main drivers of business are, just as in Europe, engines, security and networking."

He said Continental had about 40 plants in Asia and 30 sales offices with a total of 26,000 employees.

Degenhart said the company would post at least 29.5 billion euros in sales this year and that this would likely lead to more hiring, particularly in emerging markets.

© 2011 AFP

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