Continental, Osram cut costs as autos downturn hits suppliers – Reuters

FRANKFURT (Reuters) – Auto suppliers Continental (CONG.DE) and Osram (OSRn.DE) plan deeper cost cuts after reporting weaker results on Tuesday, as a global slowdown hits the car industry. Demand in China, the world’s biggest auto market, has fallen for 15 months, while carmakers are under pressure to invest in cleaner and self-driving technologies set to reshape the industry.

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