HANOVER, Germany—Continental A.G. has adjusted its outlook for fiscal 2019 in the wake of "continued decline" in the global production of passenger cars and light vehicles.
The sales forecast for the year has now been lowered to $49 billion to $50 billion from the $49 billion to $52 billion announced in the first quarter, Continental said in a July 22 statement.
Accordingly, the adjusted EBIT margin for the full year is expected to be around 7 percent to 7.5 percent, down from 8 percent to 9 percent in the earlier forecast.
Within the Rubber Group, sales are expected to amount to around $20 billion to $20.5 billion, down from the previous forecast of $20 billion to $21 billion. The division's adjusted EBIT margin is projected to be around 12 percent to 12.5 percent, just under the 12 percent to 13 percent announced in the first quarter.