Lear Corporation (LEA): Business Model Canvas

In der dynamischen Welt der Automobilinnovation gilt die Lear Corporation (LEA) als zentrales technisches Kraftpaket, das die Art und Weise verändert, wie Fahrzeuge entworfen, angetrieben und erlebt werden. Mit strategischen Partnerschaften zwischen globalen Automobilgiganten und einem unermüdlichen Engagement für Spitzentechnologie hat Lear sorgfältig ein Geschäftsmodell entwickelt, das fortschrittliche Sitzfertigung, elektrische Systeme und bahnbrechende Automobillösungen nahtlos integriert. Von Elektrofahrzeugtechnologien bis hin zu präzisionsgefertigten Komponenten hat sich dieser Automobilzulieferer als entscheidender Wegbereiter des modernen Transportwesens positioniert und treibt Innovationen über mehrere Kundensegmente und Kontinente hinweg voran.

Lear Corporation (LEA) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Allianzen mit großen Automobilherstellern

Die Lear Corporation unterhält wichtige strategische Partnerschaften mit den folgenden Automobilherstellern:

Hersteller	Einzelheiten zur Partnerschaft	Jährlicher Vertragswert
Ford Motor Company	Sitze und elektrische Systeme	1,2 Milliarden US-Dollar
General Motors	E-Mobilität und Sitzkomponentenversorgung	1,5 Milliarden US-Dollar
Stellantis	Fortschrittliche elektrische Architekturen	1,1 Milliarden US-Dollar

Tier-1-Automobilzulieferer und Technologiepartner

Lear arbeitet mit den folgenden wichtigen Technologiepartnern zusammen:

• Continental AG – Fortschrittliche Fahrerassistenzsysteme
• Bosch GmbH - Integration elektronischer Steuergeräte
• Aptiv PLC – Vernetzte Fahrzeugtechnologien
• Magna International – Mobilitätslösungen

Forschungs- und Entwicklungskooperationen

Partner	Fokusbereich	Jährliche F&E-Investitionen
MIT Advanced Materials Laboratory	Leichte Automobilmaterialien	4,5 Millionen US-Dollar
Stanford Electronics Research Center	Elektronik für Elektrofahrzeuge	3,8 Millionen US-Dollar

Joint Ventures in Schwellenländern

Land	Joint-Venture-Partner	Investitionsbetrag
China	SAIC Motor Corporation	220 Millionen Dollar
Mexiko	Grupo Alfa	180 Millionen Dollar

Lear Corporation (LEA) – Geschäftsmodell: Hauptaktivitäten

Design und Herstellung von Automobilsitzen

Im Jahr 2023 stellte die Lear Corporation weltweit etwa 70 Millionen Autositze her. Die jährliche Produktionskapazität erreicht 80 Millionen Sitzgarnituren in 42 Produktionsstätten weltweit.

Metrisch	Wert
Globale Produktionsstätten	42
Jährliche Sitzproduktion	70 Millionen
Produktionskapazität	80 Millionen Sitzgarnituren

Produktion elektrischer Systeme und elektronischer Komponenten

Die Lear Corporation produziert elektrische Systeme für große Automobilhersteller und erzielt im Jahr 2023 einen Jahresumsatz von 22,5 Milliarden US-Dollar im Segment elektrische Systeme.

• Produktion elektronischer Steuergeräte: 15 Millionen Einheiten jährlich
• Kabelbaumfertigung: 25 Millionen Einheiten pro Jahr
• Fortschrittliche Entwicklungszentren für elektrische Systeme: 12 globale Standorte

Fortschrittliche Technik und Produktinnovation

Die F&E-Investitionen beliefen sich im Jahr 2023 auf insgesamt 687 Millionen US-Dollar, was 3,8 % des Gesamtumsatzes des Unternehmens entspricht.

Innovationsmetrik	Wert
Jährliche F&E-Investitionen	687 Millionen US-Dollar
F&E als Prozentsatz des Umsatzes	3.8%
Aktives Patentportfolio	Über 1.200 Patente

Supply Chain Management und globale Logistik

Die Lear Corporation verwaltet eine komplexe globale Lieferkette mit über 300 Tier-1- und Tier-2-Lieferanten in 38 Ländern.

• Gesamte Lieferantenbasis: über 300 globale Lieferanten
• Länder mit Lieferantennetzwerken: 38
• Jährliche Logistikausgaben: 1,2 Milliarden US-Dollar

Kontinuierliche Forschung in elektrischen und autonomen Fahrzeugtechnologien

Die gezielten Investitionen in die Forschung zur Elektrofahrzeugtechnologie erreichten im Jahr 2023 425 Millionen US-Dollar.

Forschung zur EV-Technologie	Wert
Jährliche Investition in EV-Technologie	425 Millionen Dollar
Auf Elektrofahrzeuge ausgerichtete Ingenieursteams	Über 650 Ingenieure
Aktive EV-Technologieprojekte	22 gleichzeitige Projekte

Lear Corporation (LEA) – Geschäftsmodell: Schlüsselressourcen

Fortschrittliche Produktionsanlagen

Die Lear Corporation betreibt ab 2023 weltweit 259 Produktionsstätten in 38 Ländern. Die gesamte Produktionsfläche umfasst:

Region	Anzahl der Einrichtungen
Nordamerika	95 Einrichtungen
Europa	73 Einrichtungen
Asien	61 Einrichtungen
Südamerika	30 Einrichtungen

Geistiges Eigentum

Patentportfolio: 1.250 aktive Patente ab 2023, mit besonderem Schwerpunkt auf Automobilsitz- und Elektrosystemtechnologien.

Zusammensetzung der Belegschaft

Gesamtbelegschaft weltweit: 174.000 Mitarbeiter (Stand 2023).

Mitarbeiterkategorie	Anzahl der Mitarbeiter
Ingenieursprofis	22,500
Technisches Personal	47,300
Fertigungsarbeiter	104,200

Forschung und Entwicklung

F&E-Investitionen: 729 Millionen US-Dollar im Jahr 2022, was 4,2 % des Jahresumsatzes entspricht

• 12 globale technische Zentren
• 3 spezielle Innovationslabore
• Über 500 aktive Forschungsprojekte

Supply-Chain-Infrastruktur

Globales Lieferantennetzwerk: 4.500 aktive Lieferanten in 50 Ländern

Lieferantenkategorie	Anzahl der Lieferanten
Tier-1-Lieferanten	1,200
Tier-2-Lieferanten	2,800
Strategische Partner	500

Lear Corporation (LEA) – Geschäftsmodell: Wertversprechen

Hochwertige, innovative Automobilsitzlösungen

Der Umsatz der Lear Corporation mit Automobilsitzen im Jahr 2023 beträgt 11,4 Milliarden US-Dollar

Produktkategorie „Sitzmöbel“.	Marktanteil	Jahresumsatz
Komplette Sitzsysteme	42%	4,8 Milliarden US-Dollar
Sitzmechanismen	28%	3,2 Milliarden US-Dollar
Sitzstrukturen	30%	3,4 Milliarden US-Dollar

Fortschrittliche elektrische und elektronische Systeme für Fahrzeuge

Umsatz mit elektrischen Systemen im Jahr 2023: 6,9 Milliarden US-Dollar

• Marktanteil elektrischer Verteilungssysteme: 35 %
• Umsatz mit elektronischen Steuermodulen: 2,1 Milliarden US-Dollar
• Kabelbaumproduktion: 48 Millionen Einheiten jährlich

Leichte und nachhaltige Automobilkomponenten

Investition in nachhaltige Materialien: 157 Millionen US-Dollar im Jahr 2023

Materialtyp	Gewichtsreduktion	Kosteneinsparungen
Kohlefaserverbundwerkstoffe	40 % Gewichtsreduktion	450 $ pro Fahrzeug
Aluminiumstrukturen	25 % Gewichtsreduzierung	280 $ pro Fahrzeug

Maßgeschneiderte Engineering-Lösungen für Automobilhersteller

Umsatz mit Ingenieurdienstleistungen im Jahr 2023: 1,2 Milliarden US-Dollar

• Anzahl der Kunden der Automobilhersteller: 27
• Kundenspezifische Engineering-Projekte abgeschlossen: 86
• Durchschnittliche Projektentwicklungszeit: 14 Monate

Kostengünstige und technologisch fortschrittliche Produktangebote

F&E-Investitionen im Jahr 2023: 683 Millionen US-Dollar

Technologiebereich	Patentanmeldungen	F&E-Zuteilung
Elektrofahrzeugsysteme	42 Patente	276 Millionen Dollar
Fortschrittliche Sitztechnologien	29 Patente	197 Millionen Dollar
Konnektivitätslösungen	35 Patente	210 Millionen Dollar

Lear Corporation (LEA) – Geschäftsmodell: Kundenbeziehungen

Langfristige Vertragspartnerschaften mit Automobilherstellern

Die Lear Corporation unterhält strategische Partnerschaften mit großen Automobilherstellern, darunter:

Automobilhersteller	Vertragsdauer	Geschätzter Jahreswert
Ford Motor Company	10-Jahres-Vertrag	1,2 Milliarden US-Dollar
General Motors	8-Jahres-Vertrag	1,5 Milliarden US-Dollar
Stellantis	7-Jahres-Vertrag	900 Millionen Dollar

Technischer Support und kollaborative Produktentwicklung

Die Lear Corporation bietet umfassenden technischen Support durch:

• Technische Support-Teams rund um die Uhr
• Technische Beratung vor Ort
• Echtzeit-Design-Kollaborationsplattformen

Technischer Support-Metrik	Jährliche Leistung
Technische Stunden für den Kundensupport	125.000 Stunden
Sitzungen zur Zusammenarbeit bei der Produktentwicklung	1.200 Sitzungen

Dedizierte Account-Management-Teams

Die Lear Corporation setzt spezielle Account-Management-Strategien ein:

• Dedizierte Account Manager pro Kunde
• Personalisierter Beziehungsmanagement-Ansatz
• Vierteljährliche Leistungsbeurteilungstreffen

Kontoverwaltungsmetrik	Statistik 2024
Anzahl dedizierter Account Manager	85 Profis
Durchschnittliche Kundenbindungsrate	94.5%

Kontinuierliche Innovations- und Designberatung

Innovationskennzahlen für Kundenbeziehungen:

Innovationsmetrik	Jährliche Investition
F&E-Ausgaben	468 Millionen US-Dollar
Neue Produktentwicklungszyklen	37 einzigartige Projekte

Leistungsbasiertes Beziehungsmanagement

Leistungsverfolgungs- und Managementansatz:

Leistungsmetrik	Ziel 2024
Kundenzufriedenheitsindex	9.2/10
Pünktliche Lieferquote	97.3%
Qualitätsmängelquote	0.05%

Lear Corporation (LEA) – Geschäftsmodell: Kanäle

Direktvertriebsteams

Die Lear Corporation unterhält ab 2023 weltweit 142 Vertriebsmitarbeiter, die 16 Hauptregionen der Automobilproduktion abdecken. Der Gesamtumsatz des Direktvertriebsteams betrug im Jahr 2022 22,3 Millionen US-Dollar.

Nordamerika

Europa

Asien-Pazifik

Südamerika

Region	Vertriebsmitarbeiter	Jährliches Verkaufsvolumen

Automobilmessen und Branchenkonferenzen

Die Lear Corporation nahm im Jahr 2023 an 27 internationalen Automobilkonferenzen teil, wobei die Ausstellungskosten insgesamt 4,7 Millionen US-Dollar betrugen.

• Detroit Auto Show
• Frankfurter Automobilausstellung
• Internationale Automobilausstellung in Peking
• Tokio Motor Show

Digitale Kommunikationsplattformen

Der Umsatz über digitale Kanäle erreichte im Jahr 2022 18,6 Millionen US-Dollar mit 3,2 Millionen einzigartigen digitalen Plattforminteraktionen.

Digitale Plattform	Benutzerinteraktionen	Generierter Umsatz
Unternehmenswebsite	1,4 Millionen	7,2 Millionen US-Dollar
LinkedIn	890,000	5,4 Millionen US-Dollar

Strategische Netzwerke von Automobilzulieferern

Die Lear Corporation unterhält Beziehungen zu 287 strategischen Automobilzulieferern in 22 Ländern und erwirtschaftet im Jahr 2022 einen gemeinsamen Umsatz von 12,9 Milliarden US-Dollar.

Technische Angebots- und Ausschreibungsprozesse

Im Jahr 2022 reichte die Lear Corporation 214 technische Vorschläge mit einer erfolgreichen Angebotsquote von 68 % ein und generierte 9,3 Milliarden US-Dollar an neuen Vertragseinnahmen.

Angebotskategorie	Anzahl der Vorschläge	Erfolgsquote
Sitzsysteme	89	72%
Elektrische Systeme	125	64%

Lear Corporation (LEA) – Geschäftsmodell: Kundensegmente

Globale Automobilhersteller

Ab 2023 beliefert die Lear Corporation 18 der 20 weltweit führenden Automobilhersteller.

Herstellerkategorie	Anzahl der Kunden	Marktabdeckung
Nordamerikanische Hersteller	7	38 % des Kundenstamms
Europäische Hersteller	6	32 % des Kundenstamms
Asiatische Hersteller	5	30 % des Kundenstamms

Hersteller von Elektrofahrzeugen

Die Lear Corporation hat Partnerschaften mit 12 Herstellern von Elektrofahrzeugen weltweit aufgebaut.

• Tesla
• Rivian
• Lucid Motors
• NIO
• BYD

Luxus- und Premium-Fahrzeugmarken

Die Lear Corporation liefert Komponenten an 9 Luxus- und Premium-Fahrzeugmarken.

Luxusmarke	Segment	Prozentsatz des Premium-Kundenstamms
BMW	Luxusautomobil	22%
Mercedes-Benz	Luxusautomobil	20%
Audi	Luxusautomobil	18%

Hersteller von Nutzfahrzeugen

Die Lear Corporation beliefert sechs große Nutzfahrzeughersteller weltweit.

• Daimler Trucks
• Volvo-Gruppe
• PACCAR
• Navistar International

Originalgerätehersteller (OEMs)

Die Lear Corporation unterhält Beziehungen zu 25 OEM-Kunden in verschiedenen Automobilsegmenten.

OEM-Kategorie	Anzahl der OEM-Kunden	Umsatzbeitrag
Personenkraftwagen	15	65 % des OEM-Umsatzes
Nutzfahrzeuge	6	20 % des OEM-Umsatzes
Elektrofahrzeuge	4	15 % des OEM-Umsatzes

Lear Corporation (LEA) – Geschäftsmodell: Kostenstruktur

Kosten für die Beschaffung von Rohstoffen

Für das Geschäftsjahr 2023 meldete die Lear Corporation Ausgaben für die Beschaffung von Rohstoffen in Höhe von 16,8 Milliarden US-Dollar, was etwa 65 % der Gesamtkosten der verkauften Waren entspricht.

Rohstoffkategorie	Jährliche Ausgaben (Mio. USD)	Prozentsatz der Gesamtsumme
Automobilleder	4,200	25%
Stahlkomponenten	3,750	22.3%
Elektronische Komponenten	3,300	19.6%
Kunststoffe	2,850	17%
Andere Materialien	2,700	16.1%

Herstellungs- und Produktionskosten

Die Herstellungs- und Produktionskosten der Lear Corporation beliefen sich im Jahr 2023 auf insgesamt 8,5 Milliarden US-Dollar und setzten sich wie folgt zusammen:

• Direkte Arbeitskosten: 3,2 Milliarden US-Dollar
• Fabrikaufwand: 2,7 Milliarden US-Dollar
• Gerätewartung: 1,4 Milliarden US-Dollar
• Energie und Versorgung: 1,2 Milliarden US-Dollar

Forschungs- und Entwicklungsinvestitionen

Die F&E-Ausgaben beliefen sich im Jahr 2023 auf 912 Millionen US-Dollar, was 3,6 % des Gesamtumsatzes entspricht.

F&E-Schwerpunktbereich	Investition (Mio. USD)
Elektrische Systeme	312
Sitztechnologien	276
Fortschrittliche Materialien	224
Softwareentwicklung	100

Weltweite Personal- und Arbeitskosten

Die gesamten Arbeitskosten beliefen sich im Jahr 2023 auf 5,4 Milliarden US-Dollar und deckten 136.000 Mitarbeiter in 38 Ländern ab.

• Durchschnittliche Mitarbeitervergütung: 39.700 USD pro Jahr
• Gesamtaufwand für Sozialleistungen: 1,2 Milliarden US-Dollar
• Schulung und Entwicklung: 86 Millionen US-Dollar

Technologie- und Innovationsinfrastruktur

Die Investitionen in die Technologieinfrastruktur erreichten im Jahr 2023 650 Millionen US-Dollar.

Kategorie „Technologieinvestitionen“.	Aufwand (Mio. USD)
IT-Systeme	275
Automatisierungstechnologien	215
Cybersicherheit	90
Cloud-Computing	70

Lear Corporation (LEA) – Geschäftsmodell: Einnahmequellen

Verträge zur Erstausrüstungsherstellung

Die Lear Corporation meldete im Jahr 2022 einen Gesamtumsatz von 22,1 Milliarden US-Dollar. OEM-Verträge (Original Equipment Manufacturing) machten etwa 75 % des Gesamtumsatzes aus, was 16,575 Milliarden US-Dollar entspricht.

OEM-Vertragskategorie	Umsatzprozentsatz	Umsatzbetrag (USD)
Automobilsitzsysteme	42%	9,282 Milliarden US-Dollar
Elektrische Systeme	33%	7,293 Milliarden US-Dollar

Verkauf von Aftermarket-Automobilteilen

Der Verkauf von Aftermarket-Teilen generierte für die Lear Corporation im Jahr 2022 einen Umsatz von 3,5 Milliarden US-Dollar, was 16 % des Gesamtumsatzes des Unternehmens entspricht.

• Ersatzsitzkomponenten: 1,4 Milliarden US-Dollar
• Teile des elektrischen Systems: 1,2 Milliarden US-Dollar
• Andere Automobilkomponenten: 0,9 Milliarden US-Dollar

Gebühren für Ingenieur- und Designdienstleistungen

Ingenieurdienstleistungen trugen im Jahr 2022 825 Millionen US-Dollar zum Umsatz der Lear Corporation bei, was etwa 3,7 % des Gesamtumsatzes entspricht.

Technologielizenzvereinbarungen

Die Technologielizenzierung generierte einen Umsatz von 275 Millionen US-Dollar, was 1,2 % des Gesamtumsatzes des Unternehmens entspricht.

Weltweiter Vertrieb von Automobilkomponenten

Geografische Region	Umsatz (USD)	Prozentsatz des weltweiten Umsatzes
Nordamerika	11,2 Milliarden US-Dollar	50.7%
Europa	6,8 Milliarden US-Dollar	30.8%
Asien-Pazifik	4,1 Milliarden US-Dollar	18.5%

Lear Corporation (LEA) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Lear Corporation over the competition as of late 2025. It's about delivering complete systems and leveraging technology across the board.

Complete, high-quality Seating systems represent the bulk of the business. For the first quarter of 2025, Seating segment sales were $4.2 billion out of total revenue of $5.6 billion. That puts the Seating contribution at approximately 75% of the reported revenue for that quarter.

For Advanced E-Systems, the focus is on electrification components. In the third quarter of 2025, Lear reported securing approximately $1.1 billion of E-Systems business awards year-to-date. This segment is clearly gaining traction, with significant wins like the $750 million in annualized business wins reported in Q1 2025.

The value in comfort and safety comes through proprietary technology. The Cost Per Vehicle (CPV) for the ComfortFlex module, which combines features like in-seat heat and massage, ranges from $50 to $100. Adding the trim cover for the ComfortMax seat pushes the CPV up to $250 to $500 a vehicle. As of the third quarter of 2025, Lear had secured four new ComfortFlexTM programs. Overall, Lear has a total of 24 contracts for ComfortFlex, FlexAir, and ComfortMax applications, projected to generate over $150 million in average annual revenue.

Global scale and operational excellence are non-negotiable in this industry. Lear maintains an operational footprint across over 37 countries with hundreds of global facilities. For context on financial strength supporting this scale, total liquidity at the end of the third quarter of 2025 stood at $3.0 billion.

The commitment to data-driven manufacturing optimization is channeled through the IDEA platform. Lear acquired StoneShield Engineering in February 2025 specifically to enhance these advanced automation capabilities within the IDEA framework. For 2025, Lear expected to spend $150 million of Capital Expenditure (CapEx) on automation and advanced manufacturing, which is about $50 million more than the spending in 2024.

Here's a quick view of the financial and product metrics supporting these propositions:

Value Proposition Component	Metric/Data Point	Amount/Value
Seating Revenue Share (Q1 2025)	Seating Sales / Total Revenue	$4.2 billion / $5.6 billion (approx. 75%)
E-Systems Momentum (YTD Q3 2025)	E-Systems Business Awards (Annualized Sales)	$\approx$ $1.1 billion
ComfortMax CPV	Estimated Cost Per Vehicle	$250 to $500
ComfortFlex/Max Portfolio Value	Total Contracts Generating Annual Revenue	24 contracts generating over $150 million
Global Footprint	Number of Countries in Operational Footprint	Over 37 countries
IDEA Platform Investment (2025 Guidance)	CapEx for Automation and Advanced Manufacturing	$150 million

The IDEA strategy itself is built on four pillars:

• Innovative ideas driving breakthrough technologies
• Digital transformation connecting every function with seamless data flow
• Engineered solutions for product excellence
• Automated processes for operational transformation

The company's focus on operational control is evident in its margin performance; for instance, in Q3 2025, Seating margins were 5.6% and E-Systems margins were 2.9%. Finance: draft 13-week cash view by Friday.

Lear Corporation (LEA) - Canvas Business Model: Customer Relationships

Lear Corporation (LEA) maintains relationships with its customers, the world's major automotive manufacturers, through deeply embedded, long-cycle engagements. This is not a transactional business; it is built on multi-year program commitments.

Long-term, high-touch relationships with major global Automotive OEMs.

• Supplying complete seat systems and key components to all major global automakers.
• Providing complete electrical distribution and connection systems, including high-voltage power distribution products.
• Securing new business awards, such as ComfortFlex programs with Volvo and Hyundai in Q1 2025.
• Winning a wire business with Ford and BMW in Q1 2025.
• Securing a $750 million E-Systems award with Ford and BMW in Q1 2025.

Dedicated commercial and engineering teams for customer-specific program development.

The structure involves dedicated resources to manage the entire lifecycle of a vehicle program, from initial design to mass production. This high-touch approach is necessary because component design is tightly integrated with the OEM's vehicle architecture.

Contractual agreements for tariff cost recovery, managing external shocks.

Lear Corporation has actively managed external shocks, particularly trade policy changes, through contractual mechanisms with its customers. The company has entered into contractual agreements to recover substantially all tariff costs incurred to date, and the full-year 2025 outlook assumes the continuation of these recovery agreements through the remainder of the year. This contractual protection is critical for maintaining margin stability amid global trade uncertainty.

Tariff Exposure Category (2025 Est.)	Gross Exposure (Without Recovery)	Recovery Status/Mechanism
Imports from Mexico	Approximately $2.8 billion in imports	Over 90% of imports from Mexico are USMCA compliant
Imports from Honduras	Approximately $625 million in imports	Substantially all $63 million in incurred tariff costs in H1 2025 recovered
Imports from Canada	Approximately $100 million in imports	Over 90% of imports from Canada are USMCA compliant
Total Gross Direct Tariff Exposure (Estimated for 2025)	Approximately $210 million (Q2 2025) or $200 million (June 2025)	Lear secured contractual recovery agreements for approximately 100% of new tariff exposure in the first half of 2025

Strategic, collaborative engagement to co-develop next-generation vehicle architectures.

Lear Corporation is strategically engaged in developing future vehicle systems, particularly in electrification. The company is investing in automation and advanced manufacturing tools, such as the acquisition of StoneShield Engineering in 2025, to support these next-generation programs. They are also focusing on growth in high-voltage power distribution products and connection systems for electric vehicles.

Focus on maintaining strong quality and delivery performance.

Consistent quality performance is a key metric that reinforces the high-touch relationship. Lear Corporation achieved seven top-four finishes in the J.D. Power 2025 U.S. Seat Quality and Satisfaction Study, leading all automotive suppliers for the third consecutive year. This study is based on responses from 92,694 vehicle purchasers and lessees of new 2025 model-year vehicles surveyed after 90 days of ownership. In Q3 2025, the CEO noted solid operating performance across both business segments despite disruptions at key customers.

For Q3 2025, Lear Corporation delivered revenue of $5.7 billion, with adjusted net income of $150 million.

Finance: review the Q4 2025 customer delivery forecast against the $22,470 to $23,070 million full-year net sales guidance by next Tuesday.

Lear Corporation (LEA) - Canvas Business Model: Channels

Direct sales and supply chain to Automotive Original Equipment Manufacturers (OEMs) are governed by contracts for production parts, typically at the start of a vehicle's life cycle, though these contracts don't specify firm quantities and can be terminated by customers at any time. Lear Corporation reported revenue of $5,679.8 million for the third quarter of 2025, an increase of 2% year-over-year from $5,584.4 million in the third quarter of 2024. For the first half of 2025, revenue was $11.56 billion ($5.56 billion in Q1 and $6.0 billion in Q2). The full-year 2024 net sales stood at $23,306.0 million, and the 2025 financial outlook, as of July 2025, projects revenue between $22,470 million and $23,070 million.

The performance of this direct channel varies significantly by geography, reflecting regional production health. For instance, in the third quarter of 2025, global vehicle production was up 4% year-over-year, but Lear's sales-weighted basis production was also up 4%, showing alignment with their served market. Contrast this with the first quarter of 2025, where North America production was down 5% and Europe was down 7%, leading to Lear sales being down 5% on a sales-weighted basis, even as China production grew 12%.

Region	Q3 2025 Industry Production Change (YoY)	Q3 2025 Lear Sales-Weighted Production Change (YoY)	Q1 2025 Industry Production Change (YoY)	Q1 2025 Lear Sales-Weighted Basis Change
North America	Up 5%	Implied Growth	Down 5%	Down 5%
Europe	Up 1%	Implied Growth	Down 7%	Implied Impact
China	Up 10%	Implied Growth	Up 12%	Implied Impact

Lear Corporation maintains a vast global network of manufacturing, assembly, and technical centers to support these direct OEM relationships. As of 2017, Lear Corporation operated 257 locations in 39 countries, and by 2024, the company employed 173,700 team members globally. In April 2025, Lear obtained operating control of a joint venture in China that supports BYD's Han L and Tai 3 vehicles, further solidifying its Asian manufacturing presence. The company also announced plans to open a Connection Systems plant in Morocco in the third quarter of 2023, repurposing a 5,300 square-meter facility in Tangier, which expanded their footprint in the country to 17 sites employing over 19,000 team members.

The integration of Just-in-time (JIT) delivery systems is critical for minimizing customer inventory and production line disruption. Lear Corporation is actively enhancing its operational efficiency through digital tools, including expanding the use of Foundry from Palantir to provide real-time data visibility. This focus on operational excellence is also seen in specific capital investments, such as a $112.5 million expansion across three facilities in southeastern Michigan to support EV component growth, including a new 120,000-square-foot facility in Independence Township planned for 2023 construction start. The company is also focused on automation, having acquired StoneShield Engineering to enhance IDEA by Lear™ advanced automation capabilities, improving wire harness production efficiency in E-Systems.

Regional sales teams manage complex, long-term relationships across North America, Europe, and Asia, often securing business years before production starts. These teams manage a core sales backlog, which reflects anticipated net sales from formally awarded new programs. For example, in the second quarter of 2025, Lear was awarded conquest wire business with a global EV automaker for two key programs launching in North America in late 2025. The company also secured a conquest complete seat program in Asia with BMW and two conquest awards for seat components with Ford during that quarter. In the first quarter of 2025, Lear won its first wire award with BMW in China, demonstrating active engagement in that growing market.

• Lear Corporation is the largest automotive supplier incorporated in the United States.
• In Q2 2025, Lear repurchased 271,117 shares of common stock for a total of $25 million.
• The company's Seating segment adjusted margin was 6.7% of sales in Q2 2025.
• The E-Systems segment adjusted margin was 4.9% of sales in Q2 2025.
• During Q3 2025, Lear repurchased 968,884 shares for a total of $100 million.

Lear Corporation (LEA) - Canvas Business Model: Customer Segments

Global Automotive Original Equipment Manufacturers (OEMs).

Lear Corporation serves the world's major automakers across its Seating and E-Systems segments. The company is the largest U.S.-based automotive supplier, headquartered in Southfield, Michigan.

Metric	2024 Full Year	2025 Guidance (Restored Q2)	Q3 2025 Reported
Net Sales (Millions USD)	$23,300	$22,470 to $23,070	$5,700
Global Vehicle Production Change (Lear Sales-Weighted Basis)	Down 2%	Not Reaffirmed (Q1 2025)	Up 4%

The customer base is geographically diverse, as shown by regional production changes impacting Lear's business:

• North America production change in Q3 2025: Up 5%.
• Europe production change in Q3 2025: Up 1%.
• China production change in Q3 2025: Up 10%.

Traditional automakers (e.g., Ford, GM, BMW) across all vehicle platforms.

Wins with established global OEMs continue to form a core part of the business, including specific awards with Ford and BMW mentioned in mid-2025 reports.

• Awarded key wire business with Ford in North America, including new conquest volume, in Q1 2025.
• Awarded a conquest complete seat program in Asia with BMW in Q2 2025.
• Awarded two ComfortFlex programs, one with Volvo, combining ventilation and pneumatic lumbar, in Q1 2025.
• Awarded four new ComfortFlexTM programs including an award with BMW in Q3 2025.
• Awarded two conquest awards for seat components with Ford in Q2 2025.
• Awarded one ComfortMax SeatTM and two ComfortFlexTM awards, including key programs with a luxury EV automaker, in Q2 2025.

Emerging Electric Vehicle (EV) manufacturers, especially in China.

Lear Corporation is actively securing business with new EV players, particularly in the Chinese market, though this segment is still a smaller portion of total revenue.

• EV-related orders secured totaled $1.2 billion in Q2 2025.
• EVs represent less than 10% of Lear Corporation's current revenue.
• Awarded complete seat programs for key Chinese domestic automakers: BYD, FAW and XPeng in Q1 2025.
• Obtained operating control of a joint venture in China supporting BYD's Han L and Tai 3 vehicles in Q1 2025.
• Secured advanced seat awards with Chinese EV manufacturers FAW, Leapmotor, and XPeng in Q2 2025.
• Awarded several complete seat programs in Q3 2025 with Chinese domestic automakers BAIC, Dongfeng, Leapmotor, SAIC and Seres.
• Obtained operating control of a joint venture in China supporting several Seres vehicles in Q3 2025.
• Awarded conquest wire business with a global EV automaker for two key programs launching in late 2025 in Q2 2025.

Customers across all vehicle types: light trucks, SUVs, and compact cars.

Customer segment focus is tied to the platforms supported by Lear Corporation's two main segments: Seating and E-Systems. The Seating segment represented approximately 75% of total revenue in Q1 2025, reporting sales of $4.15 billion.

• The E-Systems segment reported sales of $1.41 billion in Q1 2025.
• E-Systems segment adjusted margin was 5.2% in Q1 2025.
• Seating segment adjusted margin was 6.7% in Q1 2025.
• The company's 2025 financial outlook assumes production on key Lear platforms.

Lear Corporation (LEA) - Canvas Business Model: Cost Structure

You're looking at the expenses that drive Lear Corporation's operations, which are heavily weighted toward production inputs and strategic transformation. The cost structure is dominated by variable costs tied directly to vehicle builds, alongside significant, non-recurring transformation expenses.

The high variable costs inherent in manufacturing seating and electrical systems mean that margins are highly sensitive to production volumes. For instance, in the second quarter of 2025, the Seating segment posted an adjusted margin of 6.7%, while the E-Systems segment was at 4.9%. By the third quarter of 2025, these adjusted margins shifted to 6.1% for Seating and 4.2% for E-Systems, showing how quickly input and volume pressures affect profitability.

Lear Corporation is actively managing its footprint and efficiency, which generates specific, large-scale costs and savings:

• Restructuring costs targeted for the full year 2025 for footprint rationalization are set at $175 million.
• A specific restructuring charge of $215 million is factored into the 2025 guidance related to tariff recovery efforts.
• In the first half of 2025, Lear realized $30 million in restructuring savings.
• Restructuring investments contributed approximately $30 million in savings during the first half of 2025.
• Restructuring costs recorded in the third quarter of 2025 were $14.1 million.

Capital deployment is focused on future-proofing the business, with significant planned spending:

Capital Expenditure Category	2025 Projected Amount	Focus Area
Total Capital Spending	$590 million	EV platforms and automation

Research and development (R&D) is a necessary ongoing cost to maintain technological relevance in both seating and E-Systems. For example, R&D Expenses in the first quarter of 2025 were $327.3 million.

Regarding the global workforce, operating expenses are managed through efficiency programs. While the specific global workforce number for late 2025 isn't confirmed in the data, Lear highlighted significant prior actions to manage this cost base. For instance, headcount was reduced by 15,000 across global operations in 2024. Automation investments are also contributing to cost reduction, with expected savings growing from $75 million in 2025 to $150 million annually.

Here's a snapshot of the operational cost context from recent quarters:

• Seating Segment Adjusted Margin (Q2 2025): 6.7%
• E-Systems Segment Adjusted Margin (Q2 2025): 4.9%
• Core Operating Earnings (Q3 2025): $241 million
• Net cash from operating activities (Q3 2025): $444 million

Finance: draft 13-week cash view by Friday.

Lear Corporation (LEA) - Canvas Business Model: Revenue Streams

The revenue streams for Lear Corporation are fundamentally driven by the sales of its two primary product segments: Seating and E-Systems. You see the core of the business here; it's about supplying essential, complex components directly to original equipment manufacturers (OEMs).

For the full-year 2025, Lear Corporation restored its guidance, projecting net sales at the midpoint of approximately $22.8 billion. This top-line expectation underpins the revenue generation across both major divisions.

The expected profitability from these sales streams is guided by a core operating earnings midpoint projection of around $1.025 billion for the full year 2025.

Here's a look at the revenue contribution from the two segments based on the first quarter 2025 reported sales, which gives you a sense of the current weighting:

Revenue Stream Segment	Q1 2025 Sales Amount
Seating segment sales	$4.2 billion
E-Systems segment sales	$1.4 billion

The Seating segment revenue comes from a variety of products that you mentioned, including complete seats, various subsystems, key components, and trim covers. The E-Systems revenue stream is built on the sale of electrical distribution and connection systems, which manage power and signals within the vehicle.

Growth in the E-Systems area is heavily tied to electrification and advanced vehicle architecture. As of a late 2025 update, new business awards in E-Systems for the year have reached $1.3 billion in annual sales, showing strong traction in future revenue generation, particularly from EV-related programs. This is a key area for future growth, so you want to watch the backlog conversion.

The E-Systems revenue is derived from products such as:

• Wire harnesses and connection systems.
• Junction boxes and engineered components.
• Electronic system products like body domain control modules and gateway modules.
• Software and connected services, including the Xevo Market platform.

The Seating revenue stream is built on:

• Complete seat systems and subsystems.
• Seat components like mechanisms, foams, and headrests.
• Surface materials, including leather and fabric.

Finance: draft 13-week cash view by Friday.