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 more than 20% of sales. The company has more than 40 manufacturing, engineering and customer support facilities in nearly 15 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 approximately 45% of net revenue. Audio and infotainment account for about 25%, and information displays generate more than 15%. Climate controls and body and security products account 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 15 countries around the world. Its approximately 15 electronics manufacturing and assembly facilities are located in Mexico, Brazil, Portugal, Russia and several locations in Asia, including China, Japan, and Thailand. The company leases most of its facilities. Europe generates the largest revenue for more than 30%.
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 about 50% of the company's total revenue.
Visteon has suffered a decline in sales over the past several years. The company's sales decreased by 9% since 2015 to $2.9 billion in 2019.
The company's sales for the year 2019 totaled $2.9 billion, representing a decreased of $39 million compared with the same period of 2018.
Net income attributable to Visteon was $70 million for the year ended 2019, compared to $164 million in 2018, mainly due to the decrease in gross margin, higher selling, general and administrative expense, and lower provision for income taxes.
Cash at the end of fiscal 2019 was $469 million, an increase of $2 million from the prior year. Cash from operations contributed $183 million to the coffers, while investing activities used $128 million, mainly for capital expenditures. Financing activities used another $49 million for dividends to non-controlling interests, short-term debt 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. Visteon has continued to win an elevated level of business by demonstrating product quality, technical and development capability, new product innovation, reliability, timeliness, product design, manufacturing capability and flexibility, as well as overall customer service.
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): 200
Employees (All Locations): 11,000
Van Buren Twp, MI
Van Buren Twp, MI
New Delhi, India
Higashi Hiroshima, Japan
Cuautitlan Izcalli, Mexico