(Reuters) – German vehicle and commercial distributor Continental on Monday reduced its sales assistance for the 2nd time this year, condemning weak need in Europe and North America, also as it uploaded third-quarter core earnings over assumptions.
Continental currently anticipates sales for 2024 to be in between 39.5 and 42 billion euros ($ 42.9 and $45 billion), below the 40 to 42.5 billion euro variety it gave up August.
That was itself a cut, with Continental pointing out weak need for automobile in Europe and for tire substitute in North America.
Third- quarter core earnings, nonetheless, can be found in at 873 million euros, defeating assumptions in a company-compiled agreement by around 11%, with the company indicating cost self-control and cost-cutting in its vehicle department.
Continental introduced task cuts previously this year in its vehicle department.
($ 1 = 0.9333 euros)
(Reporting by Chiara Holzhaeuser and Louis van Boxel-Woolf, Editing by Friederike Heine)
