(Reuters) – German car and industrial distributor Continental on Monday diminished its gross sales help for the 2nd time this yr, condemning weak want in Europe and North America, additionally because it uploaded third-quarter core earnings over assumptions.
Continental presently anticipates gross sales for 2024 to be in between 39.5 and 42 billion euros ($ 42.9 and $45 billion), beneath the 40 to 42.5 billion euro selection it gave up August.
That was itself a minimize, with Continental declaring weak want for car in Europe and for tire substitute in North America.
Third- quarter core earnings, nonetheless, may be present in at 873 million euros, defeating assumptions in a company-compiled settlement by round 11%, with the corporate indicating price self-control and cost-cutting in its car division.
Continental launched activity cuts beforehand this yr in its car division.
($ 1 = 0.9333 euros)
(Reporting by Chiara Holzhaeuser and Louis van Boxel-Woolf, Editing by Friederike Heine)
