Autoliv, the world's 30th largest auto supplier, expects to have market-beating results in 2022, despite being hit by COVID lockdowns in China, raw material cost increases and volatile car production. The Swedish safety equipment specialist forecasts its organic sales will grow by up to 16 percent and it will have an adjusted operating margin of about 6 to 7 percent. CEO Mikael Bratt, who has led the airbag and seat belt maker since 2018, said stabilizing chip supplies have make Autoliv "cautiously optimistic," but the company will remain on "high alert" because of the multiple challenges still facing the industry faces. He shared his outlook with Automotive News Europe Managing Editor Douglas A. Bolduc.
What is your overall market outlook for 2022?
We are cautiously optimistic because we have seen some more stable production volumes across the board due to the improved availability of components, particularly semiconductors. Therefore, we expect global LVP (light vehicle production) to rise 2 to 5 percent compared with 2021.