Lear has joined Daimler in cutting its earnings forecasts as weak sales in the world's biggest markets darkens the outlook for the industry.
Lear warned investors Tuesday that net sales may drop to as low as $19.8 billion this year, down from an earlier projection of as much as $21.7 billion.
The supplier of seats and electrical and electronic systems followed Daimler in dialing back its earnings outlook, saying a second-half rebound in industry production volumes may no longer be in the cards.
"We now believe general macroeconomic and industry factors will continue to put pressure on sales and earnings throughout the remainder of 2019," Ray Scott, Lear's CEO, said in a statement.
In June, Daimler cut its profit forecast for the fourth time in 13 months, as it set aside more money to cover a regulatory crackdown on diesel emissions and vehicle recalls related to Takata airbags.
Analysts have slashed estimates for auto sales this year in China, which is going through the first slump in a generation.
Automakers are cushioning declines in the U.S. by delivering more vehicles to rental companies and other fleet customers.
More consumers have been getting priced out of the market by higher financing costs and automakers' culling of slow-selling sedans from their lineups.
"It is fair to say we don't know anyone who feared that a Lear guide down could be this bad," Chris McNally, an analyst at Evercore ISI, wrote in a report Tuesday.