Not only will carmakers be happy to win 2013 World Car of the Year Awards, but BorgWarner Inc. (BWA) will share the laurels too as its advanced technologies are deployed in many of the award winning cars. The winners include Volkswagen AG’s (VLKAY) Volkswagen Golf, Porsche’s Boxster/Cayman and Tata Motors Limited’s (TTM) Jaguar F-Type.
BorgWarner supplies GenV all-wheel drive together and timing systems for Volkswagen Golf models equipped with EA888 engines. It also produces dual-clutch and control modules for the 6-speed dual-clutch transmission. The diesel models of Volkswagen Golf are deployed with glow plugs, pressure sensor glow plugs, glow plug control units and cabin heaters. BorgWarner delivers ignition coils for the gasoline models.
As for Porsche Boxster/Cayman, BorgWarner provides ignition coils for Porsche. In addition Jaguar F-Type with 8-speed automatic transmission uses variable cam timing phasers and friction plates of BorgWarner.
BorgWarner supplies its advanced technologies to a wide range of leading vehicles around the world. Eleven out of the 13 finalists in the 2013 World Car of the Year Awards are equipped with BorgWarner technologies. The advanced technologies include variable cam timing phasers, timing systems, turbochargers, exhaust gas recirculation coolers, ignition coils, glow plugs, pressure sensor glow plugs, glow plug control units, cabin heaters, friction plates, one-way clutches and high pressure transmission solenoids.
BorgWarner is a leading manufacturer of powertrain products for world’s major automakers. The company’s products are capable of improving vehicle performance and stability, thus meeting fuel-efficiency and emission standards. The company currently holds a Zacks Rank #3 (Hold).
BorgWarner operates in 57 locations in 19 countries. Its products are manufactured and sold worldwide, primarily to original equipment manufacturers of passenger cars, SUVs, trucks and commercial transportation products. Ford Motor Co. (F) is the company’s largest customer.
BorgWarner posted a 1.6% rise in adjusted earnings to $1.30 per share (excluding non-recurring items) in the first quarter of 2013 from $1.28 in the first quarter of 2012. Earning per share surpassed the Zacks Consensus Estimate by 8 cents.
Revenues dipped year over year to 3.2% to $1.85 billion, but were marginally ahead of the Zacks Consensus Estimate of $1.84 billion. The decrease in revenues was driven by a 9% decline in light vehicle production in Europe.
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