Southfield, Michigan -- Lear Corp. expects to lose about $300 million in net sales for 2006 as a result of production cuts by customers in North America.
The automotive interiors giant said income before income taxes, restructuring costs and other expenses will be down by 15 percent.
"We know our customers and our shareholders expect us to operate asefficiently as we can, and we are proactively looking at every aspect of ourbusiness for further improvement," Bob Rossiter, Lear chairmanand chief executive, said.
"While we remain positive about the longer-term outlook, we aretaking additional steps now to ensure that we remain financially strong andeven more competitive in the long run."
About two-thirds of the decline is in the fourth quarter of 2006 and a disproportionate amount is in Lear's interior segment, the company said.
Lear is implementing a restructuring and cost-cutting programme to mitigate the production cuts.