STOCKHOLM -- Seat belts and airbags maker Autoliv said on Tuesday U.S. car maker General Motors' forecast of lower production in the second quarter would deal it a hard blow, sending its shares to five-month lows.
GM, the world's largest automaker, accounts for 10 percent of Sweden-based Autoliv's sales.
On Monday GM set a second-quarter production forecast that would represent a 10.5 percent drop in output from the same period a year ago.
"It is obvious that our GM account will face a hard time in the second quarter," Autoliv chief spokesman Mats Odman told Reuters.
"GM will affect us negatively, we cannot avoid that," he said.
On January 23, Autoliv, the world's biggest producer of seat belts and airbags, forecast turnover and earnings growth of at least 15 percent in the first quarter of 2003.
It also forecast a decline of between two and four percent in full-year 2003 light vehicle production in Europe, North America and Japan, compared with a two percent increase in the fourth quarter.