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Autoliv: Can 40% China Growth Offset Weak North America And Europe?

Autoliv reported record-breaking sales and profitability in 2025, driven primarily by strong growth in emerging markets such as India and China. The company’s consolidated sales for the fourth quarter reached approximately $2.8 billion, an 8% increase year-over-year, while full year sales grew 4% to $10.8 billion, setting new company records. This growth was supported by outperformance relative to global Light Vehicle Production (LVP), particularly in China where sales to Chinese original equipment manufacturers (OEMs) increased nearly 40% in the fourth quarter. India also contributed significantly, accounting for nearly half of global organic sales growth. Autoliv’s global market share reached approximately 44%, up nearly 5 percentage points since 2018. Despite favorable sales trends, the company experienced a slight decline in adjusted operating income in the fourth quarter, falling 4% to $337 million, with an adjusted operating margin of 12%, down 140 basis points compared to the prior year quarter.