Delphi Commercial Vehicle Bookings Grow In Q1
Revenue from the new business will be earned over an average of five years, with details of the bookings to be kept confidential at the customers' request.
"This was Delphi's strongest first quarter in the company's commercial vehicle history," said Brad Maggart, global director of Delphi Commercial Vehicle Systems. "Our strategy of developing new products for the CV market and leveraging our automotive expertise is clearly leading to new business in the segment."
Delphi's new commercial vehicle bookings of $949 million are up 39 percent over first quarter 2003, with much of the growth coming from contracts in the Asia-Pacific and European regions. Delphi continues to show its diesel technology leadership by booking a majority of its business in diesel fuel systems in these regions.
Last year, Delphi booked a record $3.2 billion in new commercial vehicle business, up from $1.1 billion in 2002.
"We continue to build on our CV success from last year and expect to see positive results for full-year 2004," Maggart said. "An industry focus on asset tracking and mobile productivity, along with advanced safety and powertrain systems, will help Delphi grow its business this year."
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