Visteon Corporation (NASDAQ:VC) Q1 2024 Earnings Call Transcript

Sachin Lawande: Absolutely. I think that’s a great question and a topic that I think needs to be properly discussed. Historically, we’ve been underrepresented in Japan. So our customers have been Mazda and Nissan, with whom we have been doing business for a number of years. And at the same time, this rapid pace of digitalization in particular, and I would also say electrification, but first digitalization, is creating opportunities for us to grow with other OEMs, notably Toyota and Honda. And these are, as you know, very large. They have a large share of the global LVP, and we have had a very small level of business with them over the last few years. We have been, for the last couple of years, a little bit longer than that, made of a particular focus to work with these customers.

I’ve been personally visiting these customers a number of times, did that earlier this year, and I’m very happy to share that we have been gaining a lot of traction, especially with Toyota. One of the wins that we talked about on this quarter is a large win for vehicles that are going to be launched in regions outside of Japan. And it’s really important for us that we are represented there. And to me, there’s still a lot of opportunity still with Toyota, with Honda to grow, and also with some of the two-wheeler OEMs in Japan, Honda two-wheelers, Yamaha, Suzuki. So it feels like the time is right, our product fit and the focus is really also appropriate. So this is an area where we will be investing more of our time and resources.

Ryan Wentling: This concludes our earnings call for the first quarter of 2024. Thank you, everyone, for participating and your ongoing interest in Visteon. Thank you.