Car parts suppliers Delphi and Visteon post unexpected profits for first quarter of 2009
13 May 2009

US car parts suppliers Delphi and Visteon both recorded first-quarter profits in 2009, despite the global sales crisis in the automotive industry dramatically cutting the firms’ revenues.

Visteon’s $2 million (£1.3 million) profit is the first profit for the firm since 2006 and is in stark contrast to the $105 million (£68 million) loss it posted for the same period last year.

That figure is deceptive, however, as the loss-making British arm of Visteon was placed in administration at the end of March.

Visteon's UK arm enters administration

Delphi’s $556 million (£336 million) profit is more realistic, although the firm, which is in its fourth year of a bankruptcy protection case, is benefitting from cutting $1.2 billion (£790 million) in healthcare costs for retired workers.

Visteon was spun off from Ford in 2000, while Delphi became independent of parent company GM in 1999.

Matt Rigby

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