ASDSTM (Ammonia Solid State Storage and Delivery System) In the first quarter of the year, Foglia's value-added tax sales rose by 10% to 4.226 billion euros, and changes in the exchange rate led to a 1.7% increase in sales, or 66 million US dollars. At the same time, sales at the Fountain Inn plant caused sales to decline slightly. 1.5% is $58 million.
In addition, Folgaria's organic growth rate reached 9.8%, of which joint ventures with Changan and FCA increased by 1.7%.
Value-added sales by region in the first quarter of 2017:
In Asian markets, Vajpay sales rose by 17.3% in Foglia and rose to 688 million euros. Changes in the exchange rate led to a loss of sales of 100,000 euros. The joint venture with Changan increased sales by 3,800 Euros. Organic growth reached 17.3%. The increase in production of light vehicles in Asia caused Foglia's organic growth in China to reach 22.5%. In addition, Foglia's VAT sales in the Chinese market reached 534 million euros, an increase of 20.4%. The sales volume contributed by local Chinese auto companies to Faurecia increased by 89%, accounting for 17.5% of the total.
In European markets, Foglia's value-added sales in the European market rose by 3.5% to 2.102 billion Euros, resulting in an organic growth rate of 4.1%, while auto production increased by 6.6%. Due to a disruption of production due to a fire at a supplier's factory, Foglia’s sales loss reached 50 million euros. It is reported that the factory will resume production at the end of the year.
In the North American market, Vagya sales in North America in the first quarter increased by 11.3% to 1.206 billion euros. Changes in exchange rates led to a slight increase in sales, which was approximately 41 million euros. The change in the production range caused its sales to drop by nearly 58 million euros. Previously, Faurecia’s organic growth in sales in the region was 12.9%, while the organic growth of auto production reached 1.6%.
In the South American market, VGO sales in Foglia increased by 73.3% to 168 million euros. The joint venture with FCA led to an increase in sales of 28 million euros. The fluctuation in exchange rates caused sales to increase by 28 million euros. The organic growth was 44.7%.
Value-added tax sales of each business segment in the first quarter of 2017:
Faurecia's interior business generated sales of 1,315 million euros, a year-on-year increase of 7.8%. Changes in the production range caused sales to fall by 58 million euros, while the two joint ventures caused sales to increase by 65 million euros.
Sales volume of Foglia's green moving business increased by 8.1% year-on-year to 1.122 billion euros. The cooperation with Cummins is an important growth point. In addition, the sales of the commercial vehicle business increased by 28%, that is, 133 million euros, and accounted for 12% of the sales of Green Motion Zhixing's business.
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