Visteon Corp., a global automotive supplier, had a record-breaking year in 2022 with $3.8 billion in revenue, beating its previous record in 2017. This growth was largely due to their digital clusters segment, which increased 40 percent year over year with key launches in North America. 45 new product launches were made, 17 of which were digital clusters. Ford remains Visteon’s largest customer, making up 22 percent of sales. However, the company’s growth has been stunted by a shortage of semiconductors, particularly microcontrollers, which control various features in cars. Visteon ranks No. 66 on Automotive News’ 2022 list of the top 100 global suppliers with worldwide sales to automakers of $2.73 billion in 2021.
The automotive industry has become increasingly complex in recent years, with the introduction of sophisticated infotainment and dashboard displays. Visteon Corp. has taken advantage of this trend, with their digital clusters segment leading the charge. Despite their success, they have encountered a shortage of semiconductors, particularly microcontrollers, which has prevented them from capitalizing on demand. As a result, the company has implemented workarounds such as redesigning products to give them more flexibility.
The microchip shortage is a problem that many automotive suppliers are facing, and it is one that will likely persist in the near future. Visteon Corp. is taking steps to address this issue, such as reengineering some products, but it is still a challenge that the company must face. As the automotive industry continues to evolve, Visteon Corp. will need to continue to innovate and find new ways to adapt to the ever-changing landscape. In the meantime, they will need to find ways to ensure that their products remain competitive in the face of the semiconductor shortage.
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