Car parts group Forvia's sales dragged by weakness in China

Forvia said a sharp sales decline in China cut first-quarter revenue by 2.2% excluding currency translation effects. The update points to softer demand in a key market for the French auto parts supplier and suggests a modest near-term headwind to growth. The news is company-specific and likely to have limited broader market impact.

Analysis

Forvia said a sharp sales decline in China cut first-quarter revenue by 2.2% excluding currency translation effects. The update points to softer demand in a key market for the French auto parts supplier and suggests a modest near-term headwind to growth. The news is company-specific and likely to have limited broader market impact.