The automotive supplier and tire manufacturer Continental wants to make its ailing automotive supplier division profitable again by cutting thousands of jobs. As of 2025, an annual cost reduction of.
(Bloomberg) Continental AG, one of Europe’s top car-parts makers, is studying the sale of automotive assets including its autonomous mobility business as it comes under growing pressure to shore up its profitability, people familiar with the matter said.Most Read from BloombergHospital Blast Kills Hundreds as Israel, Hamas Trade BlameIsrael Latest: Biden to Visit as Oil Climbs After Hospital BlastTreasury Yields Climb as Hot Data Fuel Fed Wagers: Markets WrapWill Xi Jinping’s Gamble on Vladim
Continental to Study Auto Divestments in Bid to Shore Up Profit bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
BERLIN (Reuters) -German auto parts supplier Continental is considering the sale of the car division currently bundled within ContiTech, manager magazin reported on Monday, citing company sources. The possible sale would be part of a wider reorganisation of the company being planned by Supervisory Board Chairman Wolfgang Reitzle and the executive board around CEO Nikolai Setzer, the publication added, citing the sources. Continental has taken a series of steps in recent years to restructure and boost profitability as its market capitalisation tumbled to 13 billion euros ($14.17 billion) from 50 billion in 2018.