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Visteon Corporation (Nasdaq: VC) is a global leader in designing, engineering, and manufacturing innovative cockpit electronics products and connected car solutions. Catering to major vehicle manufacturers like Ford, Nissan, Renault, Mazda, BMW, General Motors, and Honda, Visteon is a prominent provider of driver information and control systems, audio and infotainment solutions, and domain controllers. The company's notable brands include Lightscape®, OpenAir®, and SmartCore™.
Headquartered in Van Buren Township, Michigan, with additional corporate offices in Shanghai, China, and Chelmsford, UK, Visteon operates more than 50 facilities across 21 countries. Employing over 11,000 people, Visteon recorded annual sales of approximately $3.76 billion and secured $6 billion in new business in 2022.
Visteon's core business revolves around advanced vehicle cockpit electronics that encompass digital instrument clusters, domain controllers with integrated advanced driver assistance systems, displays, Android-based infotainment systems, and battery management systems. These products align with industry trends such as digitalization, electrification, and autonomous driving.
Recent achievements include the launch of digital clusters on Mercedes EQE, hybrid cluster programs on Ford Transit models in Europe, and digital clusters on Tata vehicle lines in India. Visteon has also secured new business worth $5.8 billion in the first nine months of 2023, including its first AllGo™ App Store win for an Indian OEM and a conquest digital cockpit system for a premium German OEM.
Financially, Visteon reported net sales of $1,014 million in Q3 2023, reflecting a 9% year-over-year growth in base sales. The company's adjusted EBITDA for the quarter was $128 million, a significant increase from the previous year. Visteon ended the third quarter with $485 million in cash and $341 million in debt, highlighting a solid financial standing.
The company's innovative approach extends to digital cockpit electronics, displays, and electrification. Visteon will showcase its advancements in these areas at CES 2024, including the AllGo® Connected Services, SmartCore® Service Oriented Architecture, and SmartZone Zonal Controller concept. Their display technology, including the Curved Large Format OLED Display, exemplifies cutting-edge power efficiency and superior image quality.
Visteon's commitment to sustainability is evident in its wireless Battery Management Systems (BMS) and state-of-the-art power electronics, focusing on optimizing energy conversion and packaging efficiency for the evolving electric vehicle ecosystem.
Stay connected with Visteon for the latest updates through their social media channels: LinkedIn, Twitter, Facebook, YouTube, Instagram, Weixin, Weibo, and Youku.
Learn more about Visteon at www.visteon.com.
Visteon Corporation (Nasdaq: VC) announced a $300 million share repurchase program, effective until December 31, 2026. Funding will come from excess cash and future cash flow. CEO Sachin Lawande emphasized this initiative highlights the board's confidence in Visteon’s strategic growth plan, focusing on digital, software-defined, and electric automotive solutions. Repurchases will occur through open market or privately negotiated transactions, dependent on market conditions and other factors. In 2022, Visteon reported $3.76 billion in sales and secured $6 billion in new business.
Visteon Corporation (NASDAQ: VC) will hold its 2023 Investor Day on March 7, 2023, in New York City. The event, starting at 9 a.m. ET, will feature key insights from President and CEO Sachin Lawande and CFO Jerome Rouquet. The management team will discuss the company's strategic initiatives, technology advancements, and financial targets, concluding around noon with a Q&A session. While in-person attendance is limited to invited guests, the webcast will be publicly accessible. A replay and presentation slides will be available later on the company’s investor relations site.
Visteon Corporation (NASDAQ: VC) reported impressive financial results for Q4 and full-year 2022, highlighting net sales of $1,064 million in Q4, a 35% increase year-over-year. The company achieved a net income of $34 million in Q4, translating to $1.18 per diluted share. For the full year, net sales reached $3,756 million, also reflecting a 35% growth. Visteon secured $6 billion in new business wins in 2022, launching a total of 45 new products. The company’s guidance for 2023 predicts sales between $3.95 billion and $4.15 billion, demonstrating a commitment to continued growth.
Visteon Corporation (Nasdaq: VC) will release its fourth quarter and full-year 2022 financial results on February 16, 2023, before the market opens. A conference call for investors will take place at 9 a.m. ET on the same day, accessible to the public via a live audio webcast. Participants can join the call by dialing U.S./Canada Toll-Free 1-888-440-4360 or International Toll 1-646-960-0832, using Conference ID: 4719410. A replay will be available until March 2. Visteon specializes in technologies for the mobility industry, reporting sales of around $2.8 billion in 2021.
Visteon (NASDAQ: VC) showcased innovative digital cockpit technologies at CES 2023, focusing on enhancing automotive experiences. Key highlights include the award-winning Lightscape® Panorama Display and Command & Control Display, which emphasize safety and user engagement. With a commitment to software-defined vehicles, Visteon continues to align its products with industry trends, presenting scalable solutions suitable for all vehicle types. The company aims to transform the driving experience through advanced display solutions and connected services, contributing to a more enjoyable and secure automotive environment.
Visteon and Qualcomm Technologies are collaborating to develop a high-performance cockpit domain controller to enhance next-generation automotive cockpits. Utilizing Visteon's SmartCore™ software and Snapdragon® Cockpit Platforms, the solution aims to integrate digital instrument clusters, infotainment, and advanced capabilities like driver monitoring. This partnership reflects Visteon's strategy to meet the growing demand for personalized, connected driving experiences. Production programs are expected to launch in 2025.
Visteon (NASDAQ: VC) has announced a collaboration with Amazon Web Services (AWS) to enhance its AllGo connected vehicle technology. This partnership aims to leverage AWS's cloud capabilities to deliver advanced software-defined vehicle experiences, meeting growing consumer demands for smart, connected cockpits. Key features include over-the-air software updates and a customizable automotive app store. This collaboration positions Visteon as a leader in connected vehicle technology, expected to benefit automotive manufacturers, app developers, and consumers alike.
Visteon has been recognized as a CES 2023 Innovation Awards Honoree for its Lightscape® Panoramic Display and Command & Control Display. These products reflect advancements in automotive display technology, enhancing user experience in digital cockpits. The Panoramic Display provides high perceptual quality even in sunlight, while the Command & Control Display offers customizable features for drivers. As the automotive sector evolves, these innovations align with consumer expectations for quality and performance, promising to improve brand perception and profitability for OEMs.
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