DETROIT - Visteon Corp. reported $18.4 billion in sales last year, 3 percent better than 2001, but the supplier lost more money than the year before.
That mostly was because prices paid by Ford Motor Co., which made up 80 percent of Visteon's business last year, were falling faster than the supplier's ability to cut costs.
Visteon, the second largest auto supplier in North America, posted a net loss of $352 million last year, compared with a $118 million loss in 2001, when it posted $17.8 billion in sales.
Visteon, of Dearborn, Mich., reports its automotive and glass business segments separately. Automotive sales were $17.8 billion last year, up 3 percent from 2001, while glass sales were $598 million last year, down 3.7 percent from 2001.