Thank I can you, the against employees in crisis. on and that how Autoliv am Fredrik. have we been society’s use battle proud ways in creative competence COVID-XX finding supporting Autoliv resources
income America, On examples for migrants deliver themselves. our with In taken provided associates that the manufacture India, to next become slide, or stranded sewing that In worked laser using to by company the we families In local and initiatives their to to North world. hospitals we Autoliv we local some masks. have cutting show masks. cut of no food around have have we are Poland, materials have machines manufactures feed and
busiest can the industry historic the March of is at the a industry. Looking the worst decades. next the the its slide, car year has for months typically This downturn seen that for situation is our proportions. year, industry see of however, March in market automotive on of one you
well Europe were distancing changes enforced currently unable March. XX% light Therefore, estimate vehicle the of parts U.S. the vehicle and a and actions vehicles. declined demand sales consumers production the roughly policies for not light by in as due There showrooms to as of Government as production well is and the government by possible light vehicle great social pandemics. uncertainty XX% to new and sales shutdown due car consumer closures visit in it’s to in society, to of evolution as end run-rate. in As
We post have what adapt. pandemic. will of the level we new will the that to normal, vehicle COVID-XX Regardless light reach be will of production
estimates. flexibility company them therefore the Keeping COVID-XX IHS to essential working than for scenarios the therefore in be new pandemic. of the stronger is a different degree are an normal, even current and high We of lower preparing post agility some significantly with
coming the vehicle last reported Moving year’s retail changes Passenger to the sales level page, Association Car light gradually levels major is the situation and uncertain next day. are April. OEMs very China in their back above week in and that the XX% to by from China in markets production were previous day second
expected In of production of measures. startup is regions, pace the April to around for to and and components However, their of and restarted is facilities disruption Japan China, the according and in have closures the government’s OEM fluid be situation to stay-at-home extended can in the more to OEMs demand May. slowdown will a Production their uncertainty at development availability May. by due the which of Mexico the are will recovery. to of other European start announced or to Canada, there in uncertain The slowdown Mexico likely components demand. month adapt inventory can remains disruption a potentially as in couple number U.S. OEMs by slowdowns reduced rest production supply be The rate in levels potentially plants than week of adjusting The preparing components. market again with Production their automakers plants, golden to most plants and production after coronavirus-related of early have volatile in days. shutdowns. holiday chips be and resume automotive region to Most
major next the last our gradually have XXX% situation China, to recovered year. our Autoliv around Looking for we operations compared on to production to has slide, In in time summarized this regions.
plants ramping particularly near industry for needs. full it of is customers. for limited normal our stable plants Japan, fully up running. are automotive XX operation, tech with the demand. reach the resuming industry been are In the centers line Korea, take however, in In However, capacity. at hit to overseas our but customers’ during In our and to recover in our hard our and run to and sites Europe, will months In America, North South has plants plant that are with lower efficiency is running are we back airbag the are All the pandemic shutdown. X sites In production a shifts. while XX% full than production open, open, not XX of normal rate producing seatbelt
our in headcount Looking much next than condition. workweek slide, more to includes reduction. challenge This the response we hour and just on show the market
brought coronavirus, to our our increased efforts well for we working Firstly, and have health as employees safety new by and situation new procedures the for to policies changed up in behavior response and as equipment. stepped awareness the secure protective through
liquidity a that operations, or addition, and strong also intensified of management have spending inventory daily with close securing control, are monitoring position of to through billion, critical for In receivables our $X.X strict and suspended investments, suppliers. not reduced close collaboration capital we
We and savings often redesign and initiatives, a costs. workweek lower such have government-supported of cost furloughed activities products number as in for of production undertaken personnel hours, cost reduction accelerated accelerated programs adjusted the
dividend executive payments have In and levels. reduced addition, we for suspended salary being time the our
as we the planning production shown are we on preparing While restart to continue on actions, cost reduction slide. to also next and focus further
and for up in preparing ramping coordination customers with our are restarting suppliers. We and
employees, on new our safe we a production are have focused customers facilities. awareness that protocols lessons of China. to we this learned execution We our includes recommendations practical playbook out when at World challenging and in processes from our recent To health in support raise Start suppliers navigate developed Health deeply based normal, keeping to and restart guideline new from on Organization situation. ramp Smart This our guidelines and up lays a
such personal screens. providing instance, of protection as equipment and setting making up are VCs and production We for environment, masks redesign protective
of first starting on is is Europe, this now which Our week. ramp to up focus as
impact summarized can but on majority situation closures the Consequently, is year satisfactory how is was made. first more compared the is estimate to demand, now a consumer the be full and are first our The withdraw to degree in we the limited, affecting Customer not quarter. of have operations chain a be determine guidance we possible OEM time and It for the supply confidence. with and an quarter. more difficult our of unclear the period QX scope significant currently vehicle outlook higher production and full when than it Europe decline quarter large in in North however to page, QX. The in impact The light year a sales in challenging cannot due negative regional will new business it the pandemic in more the safety second production environment America. will content second Turning forecasted of be. quarter vehicles have mix on to the currently
have sales while positive course the In sales of second of dated negative impact significant the mix. April light to quarter. on offset A latest first restarts. from outlook quarter, would XX do sales the impact magnitude for we regional had with such on global effect reduction a of production able planning lower be production a on indicates to IHS vehicle decline the XX% we a decline activities, cost and our expect not in
delaying are therefore was second our can CapEx, than are by plants comes scrutinizing much be We margin it the for first postpone. to our is quarter. everything, production When difficult customers the the to it expecting new very CapEx is we to significantly what be higher in in and decremental delayed. quarter to related are driven Typically, lines, XX% which of us of the
exceptional program not have On available next structure and to the pandemic post a at is without decisions of slide, products and supports Autoliv XXXX regardless liquidity, Markets light will Capital initiatives is the the maybe in as key This long-term of will cost production delayed. losing dedicated to strength improvement that an somewhat It charges opportunities. and situation on of outlined what necessary. that of the our although manage structuring employees. importance normal. be structure tough our remained operating terms adequate position to targets current our that we flexible The focus vehicle Day have profitability experienced from COVID-XX make we on some we strategic least in new priorities ensure that utmost we requires level products
launches, improving position. flawless for our of execution thereby satisfaction our and continue market further stronger efforts will new We supporting customer
hand will back to now I Anders.