Valeo's China sales rise 33 percent in third quarter
Valeo S.A.'s third-quarter sales in China jumped 33 percent year-on-year to 150 million euros (1.4 billion yuan), outpacing the industry's rate of production growth.
From July through September, China's auto industry boosted production by 12 percent year-on-year.
For the first nine months, Valeo's China sales soared 57 percent to 426 million euros.
Valeo produces lighting, powertrain components, climate control systems, security systems and other parts. It runs three technical centers and 18 plants in China.
The French supplier is investing heavily in China, India and other emerging markets. In March, Valeo said it would allocate 60 percent of its investments to markets in China, India, Thailand, Turkey and Russia.
It aims to boost annual sales in China and India to 1 billion euros by 2013, and 3 billion euros by 2020.
