FRANKFURT -- Continental posted a 20 percent drop in adjusted operating profit in the third quarter.
The German supplier reiterated that consolidated sales in the third quarter were about 11.1 billion euros ($12.2 billion) and its adjusted EBIT margin was about 5.6 percent. The company pre-released earnings in October.
Sales in the automotive group were about 6.5 billion euros ($7.2 billion), with an adjusted EBIT margin of about 1.6 percent.
Continental said it expects global production of cars and light trucks to drop by 6 percent this year.
In October, Continental said that slower projected automobile production growth over the next five years had forced the supplier to book a 2.5 billion euro ($2.8 billion) impairment.