Autoliv’s top customers by highest growth in 2024 were, in descending order, Geely, Mercedes and Renault.
Autoliv leads the automotive safety market in China. In addition, it is the leading supplier to both domestic and international original equipment manufacturers (OEMs). In 2024, its China division accounted for 19% of global sales.
The global automotive production reached 75.5 million units in 2024. China recorded solid growth of 5.2%. It thus consolidated its position as the world’s largest producer, with a 35.4% market share, according to the European Automobile Manufacturers Association (ACEA).
Autoliv’s main customers
Headquartered in Stockholm, Sweden, this company produces airbags, seat belts and other vehicle protection technologies.
Chinese light-vehicle manufacturers have gained prominence in Autoliv’s sales. In addition, market share with Chinese OEMs grew significantly. This is due to a 24% increase in sales to this group.
Autoliv anticipates further growth. On the one hand, the expansion of its market share boosts sales. On the other hand, increasing safety content per vehicle strengthens its position. Over the past decade, the company has invested steadily in China. Thus, it has led innovation in safety systems designed for real-world scenarios.
To advance in this field, Autoliv collaborates with universities, research institutes and automakers. Thanks to these partnerships, it is driving the development of new automotive safety technologies.
The company reported a 0.8% year-on-year decline in global sales in 2024, to US$10.39 billion. Its net income was $648 million, up from $489 million in 2023.
Asian vehicle manufacturers have become more prominent. This growth is largely due to the momentum of Japanese and Chinese OEMs. In 2024, this group accounted for 46% of Autoliv’s consolidated net sales. Of that percentage, Japanese OEMs comprised nearly two-thirds.
Success in Japan is due to Autoliv’s strong local presence. Chinese OEMs accounted for 7% of the company’s net sales. Within this group, Geely stood out with more than 2%. Meanwhile, European brands contributed 30% of net sales in 2024. Finally, U.S. OEMs, including Chrysler and new electric vehicle manufacturers, accounted for 21 percent.
Alliances
In June 2024, Autoliv sealed an alliance with XPENG AEROHT. This company is one of the leading innovators in flying cars in Asia. Thanks to this partnership, Autoliv will bring its expertise in safety for the mobility of the future.
In addition, in December, Autoliv signed a strategic agreement with Jiangling Motors Co., Ltd (JMC). This partnership strengthens its presence in China and expands its network with a key manufacturer in the automotive industry.