Adient stumbles, but barrels ahead
The automotive company Adient had an unexpected surprise recently when their quarterly earnings were reduced drastically. The seat supplier for autonomous and electrified vehicles took a large hit in their earnings when they were not able to meet certain standards for specs. Difficulties for the company were also caused by raised steel prices and the company had also lost some very important customers.
The company reported a net loss of about $216 million from a revenue of $4.2 billion for the fourth quarter of 2017, which ended December 31.
Adient is now scrambling to get their company back to where they once were and are constantly making steps forward. They are working with new fabrics, sturdy materials, reducing weight, and integrating safety and technology more than ever.
This company is also ready for anything in the future that might come their way. With the development of seats that will be adjustable once a drive is already in motion on the road. These seats will also allow for free movement allowing a passenger or driver to sit looking straight ahead or away from the road. While there is not currently commercially ready cars that are safe to drive themselves, Adient is ready for the seats that will be placed in these vehicles. They expect many people to purchase these seats themselves if the company’s greatest customers, certain car brands, don’t purchase the seats as a part of their vehicles. The advancements will bring the company back to water like they were.