Sachin Lawande: Yes. So a few points to address there. So first of all, we’ve talked about our new model launches, meaning our products previously launched being launched in new vehicle models. Obviously, these new vehicle models generate incremental revenue for Visteon, so we are providing that information. And you saw that in the first half, it was about, I would say, 70 vehicle model launches that we had, which is terrific performance in terms of just the execution. However, we’ve also previously indicated that more of our new program launches – and the way we differentiate program versus new models, new program launches are launches that have not offered before, very new products. And those new program launches were mostly second half loaded compared to, say, other years.
And so, about 2/3 of these new program launches are yet to happen and will happen in the second half. So we will have a continuation of new vehicle model launches. And on top of that, we will have some very meaningful new program launches, which is what is the reason why we are seeing this half-over-half improvement in revenues despite the underlying vehicle production at our customers not growing. So that’s the dynamic there. Now, in terms of the BMS expectations and what we have done to de-risk it is, we have reduced our expectation in our outlook quite significantly in terms of what the customers have provided as the signal, the demand signal. Obviously, we hope that we are perhaps a little more on the conservative side and the demand stays higher than what we have assumed.
So, our assumption has been built on more or less the same flat line performance at the exit rate at the end of Q2. So each week, there has been – or each month, there has been an increase in demand. And to be clear, our expectation for the rest of the year has been at the same level as the exit rate of Q2. We are hoping that it improves further from that, in which case, there might be some upside. We’re clearly prepared to supply at high levels, but we want to not necessarily have an expectation of higher than what we think would be at least a high confidence number for us in terms of BMS sales. Hopefully, that addresses your question, Luke.
Luke Junk: It does. That’s very helpful. For my follow-up, maybe a question for Jerome. If I look at the guidance, and you exclude the recall charge this quarter, it’s implying that there’s some lift to the EBITDA in the back half of the year. And I’m just wondering what’s driving that. You’re looking at leakage being consistent with prior guidance. OpEx seems pretty consistent as well in terms of net engineering spend and SG&A. Is the business just gearing a little better than you expected this year?
Jerome Rouquet: So a few things. Indeed, first sales. We are increasing our sales between the first half and the second half by about $150 million. So you get quite a lot of flow-through EBITDA, especially when our cost, SG&A and engineering, net engineering stay flat H2 versus H1. So that’s really what’s happening. It’s largely volume-driven on a fairly flattish cost base.
Luke Junk: Understood. Thank you.
Jerome Rouquet: Thank you.
Operator: And we will take our final question from Emmanuel Rosner with Deutsche Bank. Your line is open.
Emmanuel Rosner: Hi, good morning. Thanks for squeezing me in here. I just was hoping to put a final point again on the industry production environment and I guess to what extent it does or doesn’t help you this year or your outlook. I think in the second quarter, specifically, if I think my notes are correct, I think at some point, you were looking for probably like $1 billion in revenue or better. Obviously, it’s come in a little bit short of that. But you’ve also said obviously, production – industry production is coming in somewhat better than expected. So when I’m thinking about it, in terms of both impact on Q2 and on this unchanged full year revenue guidance, is there like a gating factor in terms of the supply? Or I guess where is the – why is it not like…
