Company: APTV
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001521332-25-000040
Chunk: 127

Company: Aptiv PLC
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 2
Chunk 127
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$5,208 $5,051 $157 $96 $38 $23 $— $157 

Total net sales for the three months ended June 30, 2025 increased 3% compared to the three months ended June 30, 2024. Our volumes increased 2% for the period, which primarily reflects volume growth in Asia Pacific and North America, partially offset by volume declines in Europe, compared to increased global automotive production of 2% (flat on an AWM basis). Our net sales also reflect contractual price reductions, net of price recoveries, of $17 million and favorable foreign currency impacts, primarily related to the Euro.

59

 Six Months Ended June 30,Variance Due To: 20242023Favorable/(unfavorable)Volume, net of contractual price reductionsFXCommodity pass-throughOtherTotal (in millions)(in millions)Total net sales$10,033 $9,952 $81 $54 $(26)$53 $— $81 

Total net sales for the six months ended June 30, 2025 increased 1% compared to the six months ended June 30, 2024. Our volumes increased 1% for the period, which primarily reflects volume growth in Asia Pacific, partially offset by volume declines in Europe, compared to increased global automotive production of 3% (down 1% on an AWM basis). Our net sales also reflect the impact of contractual price reductions, net of price recoveries, of $30 million, and unfavorable foreign currency impacts, primarily related to the Chinese Yuan Renminbi and South Korean Won, partially offset by the Euro.

Cost of Sales

Cost of sales is primarily comprised of material, labor, manufacturing overhead, freight, fluctuations in foreign currency exchange rates, product engineering, design and development expenses, depreciation, warranty costs and other operating expenses. Gross margin is revenue less cost of sales and gross margin percentage is gross margin as a percentage of net sales.

Cost of sales increased $128 million for the three months ended June 30, 2025 compared to the three months ended June 30, 2024, as summarized below. The Company’s material cost of sales was approximately 50% of net sales for both the three months ended June 30, 2025 and 2024.

 Three Months Ended June 30,Variance Due To: 20252024Favorable/(unfavorable)Volume