Panasonic Automotive Electronics Revenue Will Reach 1 Trillion Yen in 2015

Matsushita Group plans to increase its annual sales of its automotive electronics business to 1 trillion yen by fiscal year 2015, which is a 50% increase over sales in fiscal year 2009.

Sales of Panasonic’s automotive electronics business continued to grow, mainly due to the growing demand for car navigation and audio systems in emerging markets such as the BRIC countries.

Matsushita Electric Systems and Matsushita Electric have revenues of 660 billion yen in fiscal year 2009. They will be merged into Matsushita’s wholly-owned subsidiary in April this year.

Matsushita established a sales base in India in April last year to meet local market demand. Panasonic will also cooperate with local parts suppliers in China to develop new products to meet the needs of the Chinese market.