Company: SSUP
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0000950170-25-034599
Chunk: 50

Company: SUPERIOR INDUSTRIES INTERNATIONAL INC
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1B
Chunk 50
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31,

    2024 vs 2023

    (Units in thousands)
     
    2024
     
    2023

    % Change

    North America

    15,441

    15,683

    (1.5%)

    Western and Central Europe

    14,346

    15,297

    (6.2%)

    Total

    29,787

    30,980

    (3.9%)

Automotive industry production volumes in our primary markets declined 3.9% during the year ended December 31, 2024 (a decline of 6.2% in Western and Central Europe and a decline of 1.5% in North America) and were 12.6% lower than 2019 pre-pandemic levels. Production volumes of our key customers decreased 0.5% (declining 6.0% in Western and Central Europe, partially offset by an increase of 3.4% in North America).  

The IHS February 2025 forecast projects that production volumes in our primary markets are expected to decline 3.8% in 2025 (a decline of 5.6% in Western and Central Europe and a decline of 2.1% in North America). IHS forecasts production volumes of our key customers to decrease 5.0% (a decline of 6.6% in Western and Central Europe and a decline of 4.0% in North America).

Overview of the Year Ended December 31, 2024 Compared to the Year Ended December 31, 2023

The following chart shows the comparison of our operational performance in 2024 and 2023 (in millions):

22

Consolidated Results of Operations 

    Fiscal Year Ended December 31,
     
    2024

    2023

    NetChange

    (Dollars in thousands, except per share data)

    Net sales
     
    $
    1,267,344

    $
    1,385,283

    $
    (117,939
    )

    Cost of sales

    (1,156,810
    )

    (1,269,535
    )

    112,725

    Gross profit

    110,534

    115,748

    (5,214
    )

    Gross profit percentage

    8.7
    %