Autoliv (ALV) on Tuesday updated its medium to long term targets, as well as its 2020 outlook.

The company said that for its medium term targets, which covers up to 3 to 5 years, Autoliv expects to grow sales by 3% to 4% more each year than light vehicle production growth and its goal to increase its adjusted operating margin to about 12%, based on assumed average light vehicle production growth of 1% to 2% per year. .

The company, for the long term, seeks to grow at least in line with its market, as well as to further expand its earnings capacity to an adjusted operating margin of about 13% when Autoliv’s ongoing and planned initiatives have been implemented, according to the statement.

For 2020, Autoliv said raw material costs, organic growth from market share gains, positive impacts from ongoing cost reduction programs and a stabilization of light vehicle production are among the tailwinds expected for 2020, while lower inflator replacement sales and higher depreciation and amortization are anticipated headwinds for the upcoming year.