Continental A.G. reported a slight gain in sales last year, to $10.7 billion, with the 1.6-percent increase coming entirely in the firm's automotive systems division.
Sales in the passenger tires division fell 6 percent last year, while the commercial vehicle tires and ContiTech industrial products divisions reported slight sales declines from 2001. The company did not report earnings at this time.
Passenger tire division sales fell to $3.56 billion because of lost sales from the divested British retail chain National Tyre Service and because of weak replacement market business in the U.S. and Mexico, Conti said.
Commercial tire sales fell to $1.24 billion, while ContiTech's sales fell to $1.66 billion, largely because of the sale in the past year of some minor business units.
The automotive systems division reported a 14.6-percent sales gain, to $4.31 billion, due to overall growth and the 12-month consolidation of results from its Continental Temic vehicle electronics business, Continental said.
Without foreign exchange rate effects, Conti said, total sales would have outperformed the previous year by 3.4 percent.
In Europe, volumes remained somewhat below the previous year, both in the replacement business and in the original equipment market. In North America, volumes grew in the replacement business, while deliveries to automotive manufacturers were down.