PREMIUM INTERIOR TRIM MARKET ANALYSIS

Market News

Recent Developments

New product launches

• In January 2023, Faurecia as a global leader in automotive technology, announced the launch of its new range of premium interior trim materials for automotive interiors. The new range includes a variety of materials, such as wood, leather, and aluminum, which are designed to provide a luxurious and comfortable driving experience.
• In February 2023, Lear Corporation, a global automotive technology leader in Seating and E-Systems, announced the launch of its new line of premium interior trim for electric vehicles. The new line includes a variety of materials, such as sustainable wood, recycled plastics, and vegan leather, which are designed to provide a luxurious and sustainable driving experience.
• In March 2023, Magna International, is a Canadian parts manufacturer for automakers, announced the launch of its new line of premium interior trim for autonomous vehicles. The new line includes a variety of materials, such as touch-sensitive surfaces, voice-activated controls, and gesture recognition technology, which are designed to provide a luxurious and user-friendly driving experience.

Merger and Acquisition

• In July 2021, Magna International Inc., is a Canadian parts manufacturer for automakers acquire Veoneer, is an American Swedish provider of automotive technology based in Stockholm, this acquisition broadens Magna's ADAS business by bringing in significant clients and opens doors to new customer bases and geographic regions, notably in Asia.
• In August 2021, Faurecia, as a global leader in automotive technology has finalized the acquisition of Hella, establishing itself as the world's seventh-largest automotive supplier. The funding for this acquisition was secured through the utilization of EUR 2.9 billion from the EUR 5.5 billion bridge facilities.