Automobile component supplier MAHLE group steers steady course through coronavirus crisis
Automobile component supplier MAHLE group steers steady course through coronavirus crisis
In the current coronavirus crisis, the MAHLE Group relies on sound financial position and liquidity. In the 2019 financial year, the automobile component supplier intensified its strategic and technological realignment despite challenging conditions. MAHLE recorded the largest volume of orders received in the history of the Group, with orders running into the billions in the field of new technologies alone.
The technology group now has an unmatched broad-based portfolio for the various types of drive system. Dependence on the internal combustion engine for motor vehicles has now fallen almost to the 40 percent mark. Despite the current crisis, MAHLE remains on track for the future and is consistently forging ahead with its efficiency improvement programs. Intensive preparations are now underway for the resumption of production at the Group’s European plants.
“The coronavirus crisis is having a massive impact on our business. There was a drastic fall in sales in March and April and 2020 will be an extremely difficult year for MAHLE,” said Dr. Jörg Stratmann, CEO and Chairman of the MAHLE Group Management Board at the Annual Press Conference in Stuttgart on Thursday. “The MAHLE Group has a sound financial position. This is why we can survive a crisis for a certain time. It is our entrepreneurial responsibility to consistently continue our efficiency improvement programs and to maintain our strict cost discipline. This way, we will master the crisis.”
Following the almost complete closure of its plants throughout the world, MAHLE is now preparing intensively for the resumption of production in Europe. “We have delivery capabilities and are in a position to meet our customers’ demand. We remain a partner that is known and appreciated for its reliability,” said Jörg Stratmann.
