Delphi executives said in the conference call that 2019 would be an "inflection point" in its revenue and earnings.
That is, current headwinds will continue into 2019:
- Flat global auto production, especially in China
- A drop in demand for passenger-car diesels, especially in Europe
- Higher capital expenditures to gear up for new business
In 2020, new business which was booked earlier starts coming online in volume, the company said.
Nair said Delphi has plenty of reason for optimism, starting with those new-business bookings. In the third quarter, Delphi booked new contracts worth $3.8 billion over their lifetimes. The company has booked $9 billion in new business in the first three quarters of this year, already beating the record $7.1 billion in bookings for all of 2017, Nair said.