As of January 2022, Lear Corporation’s sales portfolio for the period 2022 to 2024 is $3.3 billion, an increase of 18% year over year.
Separately, the company‘s current sales portfolio reflects $1.3 billion related to 2022 and, respectively, 70% and 30% related to the Seating and E-Systems Segments.
Additionally, the 2022-2024 sales portfolio at their unconsolidated joint ventures is approximately $570 million.
Please note: Lear Corporation’s current sales order book assumes volumes based on IHS Markit‘s independent industry projections as of December 2021 and internal estimates, a $1.13/euro exchange rate and a Chinese RMB exchange rate of 6.50/US$.
This sales backlog is generally subject to a number of risks and uncertainties, including vehicle production volumes in new and replacement programs and exchange rates, as well as the timing of production launches and changes in production plans.
In 2021, General Motors and Ford, two of the world’s largest car and light truck manufacturers, accounted for 18% and 14% of Lear Corporation’s net sales, respectively.
Additionally, Volkswagen, Daimler, and Stellantis accounted for 12, 11, and 11% of their 2021 net sales, respectively.
Lar Corporation supplies and has experience in all vehicle segments of the automotive market.
Their sales content tends to be higher on those platforms and vehicle segments that offer more features and functionality.
At the same time, the popularity of particular vehicle platforms and segments varies over time and by regional market.
The company expects to continue to win new business and grow sales at a faster rate than the overall auto industry output.
In general, Lear Corporation customers award business to their suppliers in a variety of ways, including the award of complete systems, which allows suppliers to manufacture components in-house or purchase components from other suppliers at their discretion.
Some of their customers also choose to award certain components directly to component suppliers and independently of the full system award.