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PARIS, Oct 21 (Reuters) - French auto parts maker Valeo said third-quarter sales rose 10 percent as demand for its fuel-saving technologies outpaced vehicle production growth.
Revenue rose to 3.069 billion euros ($3.9 billion) in July-September from 2.792 billion a year earlier, Valeo said in a statement on Tuesday, reaffirming full-year goals including an operating margin above 7 percent.
The sales gain "reflects the gradual entry into production of the high order intake recorded by the group over the last few years", Chief Executive Jacques Aschenbroich said in the statement.
He pledged that the company would "continue to outperform the market over the coming years" thanks to an emphasis on driving assistance and carbon emissions-saving technologies.
Valeo, which returned earlier this year to France's benchmark CAC-40 index, is well placed to benefit from tightening CO2 and safety standards as well as future demand for self-driving cars.
The Paris-based company had raised its full-year profitability goal in July to 7 percent from a 6.6 percent margin target. On Tuesday it also reaffirmed its vehicle production growth forecasts of 2 percent for Europe and 3 percent globally.
Sales to carmakers outpaced the vehicle markets in most regions, expanding 9 percent in Europe, 25 percent in China, 5.1 percent in the rest of Asia and 4.2 percent in North America on a like-for-like basis.
In South America, where the company's exposure is limited, sales dropped 22 percent. (1 US dollar = 0.7860 euro) (Reporting by Laurence Frost; Editing by James Regan and Susan Thomas)