Aptiv Q1 earnings: Net income plunged 74%
However, rising prices of raw materials and a global semiconductor shortage forced several automakers to slash their production cycles and in some cases even produce cars without certain features, thereby impacting Aptiv’s orders.
The company in its last quarter also warned that inflationary pressures would continue to have an impact on its operations.
Shares in Aptiv rose 2.2 percent to $112.88 in premarket trading.
Aptiv ranks No. 19 on the Automotive News list of the top 100 global suppliers with estimated worldwide sales to automakers of $11.5 billion in 2020.