Half Year 2020 Valeo SA Earnings Call Transcript
Welcome to the Valeo H1 2020 Results Conference Call. I now hand over to Mr. Jacques Aschenbroich, Chairman and CEO of Valeo. Sir, please go ahead.
Good evening for all of you. I'm here with Thierry Lacorre, our Investor Relations and with Robert Charvier, our CFO. So as you can imagine, the shock of the COVID-19 has hit the whole automotive industry, probably the whole economy in general and Valeo in particular. But before going into the figures, the positive part and the negative part of what we have lived through during those last 5 months, I would like to speak about the trend of the automotive market. All the study, all the survey we are doing in different parts of the world, of course, in France and Germany, all Western European countries, what we do in China or North America, show very clearly that the automotive is considered as the safest way to travel.
And going more in detail, lots of people that were not used to use a car are now coming back to using car, even for the younger generation.
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