LONDON -- Visteon is looking to the aftermarket crash replacement parts market as a significant source of revenue in Europe.
Jacques de Ladonchamps, who became general manager of Visteon's European and South American aftermarket business in March, said Visteon wants to become a "top European independent aftermarket player in crash parts."
Visteon was spun off from Ford three and a half years ago. Its narrow revenue base remains a key weakness, say analysts.
In 2003, 67 percent of Visteon sales still originated in the US and Ford still accounted for 76 percent of business. This compares with 71 percent and 82 percent in 2001.
De Ladonchamps identified three particular areas where Visteon could find a potentially lucrative market: radiators and engine-cooling equipment, climate control and lighting.
De Ladonchamps said air conditioning presents a particularly good opportunity as Europe lags behind North America in offering automotive air conditioning.
"Because we are far behind in the air conditioning business we see tremendous growth there. We could see almost double the growth in air conditioning" between 2003 and 2008, he said.
Aftermarket parts accounted for global revenue of $992 million (E813 million) for Visteon in 2003. Total sales were $17.7 billion.
– Colin Whitbread contributed