New product launches in July-September 2024 across each of Visteon’s product lines include three customer wins in India comprising the Tata Punch, a display for another made-in-India SUV model and a follow-on win for a digital cluster with a leading two-wheeler OEM. Visteon secured new business worth $4.9 billion in the first 9 months of 2024, with $2.5 billion with OEMs in Asia excluding China.
21 Nov 2024 | 11102 Views | By Ajit Dalvi
Technology solutions provider Visteon has reported net sales of $980 million (Rs 8,164 crore) in the third quarter of CY2024. The company has stated that in a challenging market environment, it has “delivered 6% outperformance relative to customer vehicle production, driven by strong demand for digital cockpit and electrification products. ...
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Technology solutions provider Visteon has reported net sales of $980 million (Rs 8,164 crore) in the third quarter of CY2024. The company has stated that in a challenging market environment, it has “delivered 6% outperformance relative to customer vehicle production, driven by strong demand for digital cockpit and electrification products. Our market outperformance was offset by lower customer production and reduced customer recoveries resulting from improved semiconductor supply.”
Between July and September 2024, Visteon launched 30 new products, with launches across each of its product lines. Key third quarter launches include an infotainment display system on the Tata Punch, highlighting the company’s continued momentum in India. This is believed to be the first-in-segment features like the 10.25-inch (26.03 centimetres) infotainment system with wireless Android Auto and Apple CarPlay which has gone on the Tata Punch Camo limited edition launched on October 3 in India.
Other than the Punch Camo edition, all variants of the Punch equipped with a touchscreen infotainment system get a smaller seven-inch display unit supplier by Harman. Meanwhile, the Tata Punch EV, launched in January 2024, sports a 10.25-inch Visteon unit.
The Tata Punch is currently the best-selling passenger vehicle as well as the No. 1 SUV in India. In the first seven months of the current fiscal, the Punch has clocked estimated wholesales of 117,560 units.
Tata Motors is among Visteon’s strong customer base in India. It may be recollected that in May 2019, Visteon launched India’s first SmartCore cockpit domain controller powering the infotainment system and digital and hybrid instrument cluster variants on the Tata Harrier SUV. They were fully designed, developed and manufactured at Visteon India’s facilities.
Other customer deals in the July-September 2024 period included Visteon’s SmartCore system on an electric SUV for Lynk & Co for the European market and the Renault Grand Koleos hybrid for the Korean market; a digital cluster on the Nissan Qashqai, a popular SUV in Europe; and a wireless BMS for the all-electric Jeep Wagoneer.
$4.9 billion new business in first nine months of CY2024
In the first nine months of this year, Visteon has secured $4.9 billion in new business, including $2.5 billion of wins with OEMs in Asia excluding China. The company continues to diversify into adjacent end-markets, with further momentum with two-wheeler and commercial vehicle OEMs. Third-quarter wins included a large, curved display for multiple mass market vehicles in Europe for a global OEM, SmartCore and display wins for a SUV model for an Indian OEM and for an electric vehicle for a domestic China OEM. Visteon also had a follow-on win for a digital cluster with a two-wheeler OEM in India.
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