About Visteon Corporation
One of the largest auto parts makers in the US, Visteon Corporation operates across one chief business group—Electronic Products. The company is focused on cockpit electronics such as instrument clusters, information displays, infotainment systems, audio systems, telematics solutions, and head-up displays. Its customers are global vehicle manufacturers including Ford, which represents around 25% of sales. The company has more than 40 manufacturing, engineering and customer support facilities in nearly 20 countries. Nearly 80% of its sales are made outside the US.
Visteon's operating structure is organized within its primary Electronics segment (which generates all of its revenue). It provides vehicle cockpit electronics products including instrument clusters, information displays, infotainment systems, audio systems, telematics products, and heads-up displays. Products include its SmartCore cockpit domain controllers and DriveCore autonomous driving platform.
Instrument clusters are its largest product group, accounting for around 40% of net revenue. Audio and infotainment accounts for about 25%, and information displays generate more than 15%. Climate controls and body and security products accounts for nearly 10% combined, while telematics and other products account for the remainder.
Visteon is stationed in Van Buren Township, MI and operates more than 30 corporate offices, technical and engineering centers, and customer service centers in about 10 countries around the world. Its approximately 15 electronics manufacturing and assembly facilities are located in Mexico, Brazil, Portugal, and several locations in Asia, including China, Japan, and Russia. The company leases most of its these facilities.
Sales and Marketing
Visteon sells its products primarily to global vehicle manufacturers such as Ford, Mazda, Nissan/Renault, General Motors, Honda, BMW, Volkswagen, Jaguar/Land Rover, and Daimler. Its top three customers—Ford, Mazda, and Nissan/Renault—account for more than 55% of the company's total revenue.
Visteon has suffered a decline in sales over the past several years.
Along with a global softening of vehicle production during the second half of 2018, the company's sales for the full year dropped 5% to $3.0 billion compared with $3.1 billion the previous year. The company cites unfavorable volumes and product mix as contributing factors.
Visteon posted profits of $164 million in 2018, down $12 million (or 7%) from 2017. Along with lower volumes, the company also experienced higher engineering expenses and lower customer pricing.
Cash at the end of fiscal 2018 was $467 million, a decrease of $242 million from the prior year. Cash from operations contributed $204 million to the coffers, while investing activities used $98 million, mainly for capital expenditures. Financing activities used another $335 million for dividends to stockholders and the company's stock repurchase program.
Visteon is strictly focused on developing new and innovative cockpit electronics products for autonomous driving to drive growth.
In 2018, it launched its first-of-its-kind SmartCore cockpit domain controller that integrates the instrument cluster, infotainment, and other cockpit functions into one engine control unit (ECU) that incorporates graphics, wireless software updates, and cybersecurity. The SmartCore product is also integrated with Visteon's DriveCore autonomous driving controller, creating a smooth transition between manual and automated driving functions.
The company aims to develop more new products using voice and image recognition and machine learning technologies. It's developing a voice-activated smart assistant solution using natural language processing without always needing cloud connectivity. Future safety features would include head-pose detection and gaze detection capabilities.
1 VILLAGE CENTER DR
Van Buren Twp, MI 48111-5711
Phone: 1 (800) 847-8366
Employer Type: Publicly Owned
Stock Symbol: VC
Stock Exchange: , NASDAQ
SVP, Operations and Procurement: Sunil K. Bilolikar
President, CEO, and Director: Sachin S. Lawande
Chairman: Francis M. Scricco
Employees (This Location): 277
Employees (All Locations): 10,000
Van Buren Twp, MI
Van Buren Twp, MI
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