PARIS – Valeo expects the European automotive sales collapse to bottom out during the year. “There is a consensus that Europe will decline 4% this year,” CEO Jacques André Aschenbroich says, noting in January the market was down 8.7%, and further declines of that order are expected through the year’s first half before an improvement in the second half. Valeo Vice President Francois Marion concurs, pointing out that if the year is to finish down just 4%, ...
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