Schaeffler Cuts 2028 Sales Target on Weaker Outlook for Car Market
6 Articles
6 Articles
Schaeffler cuts 2028 sales target on weaker outlook for car market
The supplier Schaeffler from Bavaria is struggling with weak demand for components for electric cars. Therefore, the Group has to adjust its medium-term targets by billions downwards.
Weaker orders for electric vehicles, particularly from the US, are making the annual plans of automotive supplier Schaeffler seem unrealistic. Overall, however, electric vehicles remain a growth driver.
Schaeffler sums up its medium-term business goals. Above all, weaker orders for e-mobility from the USA make the previous requirements seem unrealistic.
Due to the poor situation in the car industry, the automotive and industrial supplier Schaeffler is cutting its medium-term business targets together. Especially the segment around the electric car reinforced with the purchase of Vitesco is causing problems. It does not grow as strong as the CEO Klaus Rosenfeld had planned until 2028. Investors reacted to the news on Friday. The share quoted in the MDax fell rapidly. The price last fell by 16 pe…
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