Market ConcernsThere is meaningful uncertainty with key original equipment customers, including Tesla and some Chinese original equipment manufacturers.
Production OutlookAptiv management has noted that production schedules in early second half have 'softened', indicating a more cautious tone compared to other suppliers.
Valuation ConcernsCurrent valuations suggest that the market has concerns around both the lower-growth Electrical Distribution Systems business and the 'new Aptiv' focused on higher-growth areas.