FRANKFURT -- Continental AG cut its 2019 outlook, citing expectations for a fall in global vehicle production and unexpected changes in consumer demand for some products.
The company also said that it may have to make provisions for warranty claims in the second half of the year, the amounts for which were not yet clear.
Sales for the year are now expected to be around 44 billion to 45 billion euros ($50.44 billion), down from a previous estimate of 45 billion to 47 billion euros, the supplier said.
Continental said it based its previous forecast on flat global vehicle production in 2019 but now sees a decline of about 5 percent.
Second-quarter results would meet analyst forecasts, the company said. According to preliminary figures, consolidated sales in the quarter were around 11.2 billion euros, Continental said.
The supplier plans to release full earnings on Aug. 7.
Continental ranks No. 4 on the Automotive News list of the top 100 global suppliers with worldwide sales to automakers of $37.8 billion in 2018.