1356 ET - Sensata Technologies' business in China is veering off course. The reason? Carmakers there don't need as many sensors. The company, which makes sensors for use in cars, says on a call with analysts that local manufacturers in China are expected to have two-thirds market share by the end of this year, up from 55% last year. CEO Martha Sullivan says Sensata is still winning business with local OEMs in China, but those companies require about half as many sensors and other products from the company. Less content per vehicle will likely limit the company's growth in China, Sullivan says. Sensata falls 6%.(ben.glickman@wsj.com; @benglickman)
(END) Dow Jones Newswires
November 05, 2024 13:56 ET (18:56 GMT)
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