DETROIT, Jan 23 (Reuters) - Auto parts maker American Axle & Manufacturing Holdings Inc. on Thursday raised its 2003 profit forecast, saying new business will power growth despite potentially lower U.S. vehicle production.
The Detroit-based company, which makes the drivetrain systems for the Dodge Ram pickup truck and the Chevrolet TrailBlazer sport utility vehicle, said it expects first-quarter earnings of about $1 per share, above analysts' average estimate of 84 cents.
The company raised its earnings guidance for the full year 2003 to $3.65 a share from $3.50. Analysts' average forecast is $3.34, according to Thomson First Call.
The company said it still expects North American light vehicle production to exceed 16 million units in 2003.