Lear Corporation (LEA): Business Model Canvas [Jan-2025 Mis à jour]

Dans le monde dynamique de l'innovation automobile, Lear Corporation (LEA) est une puissance d'ingénierie pivot, transformant comment les véhicules sont conçus, alimentés et expérimentés. Avec des partenariats stratégiques couvrant les géants automobiles mondiaux et un engagement incessant envers la technologie de pointe, Lear a méticuleusement conçu un modèle commercial qui intègre de manière transparente la fabrication de sièges avancée, les systèmes électriques et les solutions automobiles pionnières. Des technologies de véhicules électriques aux composants de la précision de la précision, ce fournisseur automobile s'est positionné comme un catalyseur critique du transport moderne, entraînant l'innovation sur plusieurs segments de clients et continents.

Lear Corporation (LEA) - Modèle d'entreprise: partenariats clés

Alliances stratégiques avec les principaux constructeurs automobiles

Lear Corporation maintient des partenariats stratégiques critiques avec les constructeurs automobiles suivants:

Fabricant	Détails du partenariat	Valeur du contrat annuel
Ford Motor Company	Sièges et systèmes électriques	1,2 milliard de dollars
General Motors	Approvisionnement en composante électronique et composant des sièges	1,5 milliard de dollars
Stelllantis	Architectures électriques avancées	1,1 milliard de dollars

Fournisseurs automobiles de niveau 1 et partenaires technologiques

Lear collabore avec les principaux partenaires technologiques suivants:

• Continental AG - Systèmes avancés d'assistance à la conduite
• Bosch GmbH - Intégration de l'unité de commande électronique
• APTIV PLC - technologies de véhicules connectés
• Magna International - Solutions de mobilité

Collaborations de recherche et développement

Partenaire	Domaine de mise au point	Investissement annuel de R&D
Laboratoire de matériaux avancés du MIT	Matériaux automobiles légers	4,5 millions de dollars
Centre de recherche sur l'électronique Stanford	Électronique de véhicules électriques	3,8 millions de dollars

Coentreprises sur les marchés émergents

Pays	Coentreprise	Montant d'investissement
Chine	Saic Motor Corporation	220 millions de dollars
Mexique	Grupo alfa	180 millions de dollars

Lear Corporation (LEA) - Modèle d'entreprise: activités clés

Conception et fabrication des sièges automobiles

En 2023, Lear Corporation a fabriqué environ 70 millions de sièges automobiles dans le monde. La capacité de production annuelle atteint 80 millions de sièges dans 42 installations de fabrication dans le monde.

Métrique	Valeur
Installations de fabrication mondiale	42
Production de sièges annuelle	70 millions
Capacité de production	80 millions de places

Systèmes électriques et production de composants électroniques

Lear Corporation produit des systèmes électriques pour les principaux constructeurs automobiles, avec un chiffre d'affaires annuel de 22,5 milliards de dollars en segment de système électrique pour 2023.

• Production de l'unité de contrôle électronique: 15 millions d'unités par an
• Fabrication de harnais de fil: 25 millions d'unités par an
• Centres de conception de systèmes électriques avancés: 12 emplacements mondiaux

Ingénierie avancée et innovation de produit

L'investissement en R&D en 2023 a totalisé 687 millions de dollars, ce qui représente 3,8% du total des revenus de l'entreprise.

Métrique d'innovation	Valeur
Investissement annuel de R&D	687 millions de dollars
R&D en pourcentage de revenus	3.8%
Portefeuille de brevets actif	1 200+ brevets

Gestion de la chaîne d'approvisionnement et logistique mondiale

Lear Corporation gère une chaîne d'approvisionnement mondiale complexe avec plus de 300 fournisseurs de niveau 1 et de niveau 2 dans 38 pays.

• Base totale des fournisseurs: 300+ fournisseurs mondiaux
• Pays avec des réseaux de fournisseurs: 38
• Dépenses logistiques annuelles: 1,2 milliard de dollars

Recherche continue sur les technologies de véhicules électriques et autonomes

L'investissement dédié dans la recherche sur la technologie des véhicules électriques a atteint 425 millions de dollars en 2023.

Recherche technologique EV	Valeur
Investissement annuel de technologie EV	425 millions de dollars
Équipes d'ingénierie axées sur l'EV	650+ ingénieurs
Projets de technologie EV active	22 projets simultanés

Lear Corporation (LEA) - Modèle d'entreprise: Ressources clés

Installations de fabrication avancées

Lear Corporation exploite 259 installations de fabrication dans le monde dans 38 pays à partir de 2023. L'empreinte de fabrication totale comprend:

Région	Nombre d'installations
Amérique du Nord	95 installations
Europe	73 installations
Asie	61 installations
Amérique du Sud	30 installations

Propriété intellectuelle

Portefeuille de brevets: 1 250 brevets actifs en 2023, avec un accent significatif sur les technologies de sièges automobiles et de systèmes électriques.

Composition de la main-d'œuvre

Total de la main-d'œuvre mondiale: 174 000 employés en 2023

Catégorie des employés	Nombre d'employés
Professionnels de l'ingénierie	22,500
Personnel technique	47,300
Fabrication de travailleurs	104,200

Recherche et développement

Investissement en R&D: 729 millions de dollars en 2022, représentant 4,2% des revenus annuels

• 12 centres techniques mondiaux
• 3 laboratoires d'innovation dédiés
• Plus de 500 projets de recherche actifs

Infrastructure de la chaîne d'approvisionnement

Réseau mondial des fournisseurs: 4 500 fournisseurs actifs dans 50 pays

Catégorie des fournisseurs	Nombre de fournisseurs
Fournisseurs de niveau 1	1,200
Fournisseurs de niveau 2	2,800
Partenaires stratégiques	500

Lear Corporation (LEA) - Modèle d'entreprise: propositions de valeur

Solutions de sièges automobiles innovantes de haute qualité

Revenus de sièges automobiles en 2023 de Lear Corporation: 11,4 milliards de dollars

Catégorie de produits de sièges	Part de marché	Revenus annuels
Systèmes de siège complets	42%	4,8 milliards de dollars
Mécanismes de siège	28%	3,2 milliards de dollars
Structures de siège	30%	3,4 milliards de dollars

Systèmes électriques et électroniques avancés pour les véhicules

2023 Revenus de systèmes électriques: 6,9 milliards de dollars

• Part de marché des systèmes de distribution électrique: 35%
• Modules de contrôle électronique Revenus: 2,1 milliards de dollars
• Production de harnais de fil: 48 millions d'unités par an

Composants automobiles légers et durables

Investissement de matériaux durables: 157 millions de dollars en 2023

Type de matériau	Réduction du poids	Économies de coûts
Composites en fibre de carbone	Réduction de poids à 40%	450 $ par véhicule
Structures en aluminium	25% de réduction du poids	280 $ par véhicule

Solutions d'ingénierie personnalisées pour les constructeurs automobiles

2023 Services d'ingénierie Revenus: 1,2 milliard de dollars

• Nombre de clients du constructeur automobile: 27
• Projets d'ingénierie personnalisés terminés: 86
• Temps de développement moyen du projet: 14 mois

Offres de produits rentables et technologiquement avancées

Investissement en R&D en 2023: 683 millions de dollars

Zone technologique	Demandes de brevet	Allocation de R&D
Systèmes de véhicules électriques	42 brevets	276 millions de dollars
Technologies de sièges avancés	29 brevets	197 millions de dollars
Solutions de connectivité	35 brevets	210 millions de dollars

Lear Corporation (LEA) - Modèle d'entreprise: Relations clients

Partenariats contractuels à long terme avec les constructeurs automobiles

Lear Corporation maintient des partenariats stratégiques avec les principaux constructeurs automobiles, notamment:

Constructeur automobile	Durée du contrat	Valeur annuelle estimée
Ford Motor Company	Contrat à 10 ans	1,2 milliard de dollars
General Motors	Contrat de 8 ans	1,5 milliard de dollars
Stelllantis	Contrat de 7 ans	900 millions de dollars

Support technique et développement de produits collaboratifs

Lear Corporation fournit un soutien technique complet à travers:

• Équipes de support d'ingénierie 24/7
• Consultation technique sur place
• Plates-formes de collaboration de conception en temps réel

Métrique de support technique	Performance annuelle
Heures d'ingénierie dédiées au support client	125 000 heures
Sessions de collaboration de développement de produits	1200 séances

Équipes de gestion des comptes dédiés

Lear Corporation utilise des stratégies de gestion des comptes spécialisés:

• Gestionnaires de compte dédiés par client
• Approche de gestion des relations personnalisées
• Réunions de révision des performances trimestrielles

Métrique de gestion du compte	2024 statistiques
Nombre de gestionnaires de comptes dédiés	85 professionnels
Taux de rétention de la clientèle moyen	94.5%

Consultation continue de l'innovation et de la conception

Métriques d'innovation pour les relations clients:

Métrique d'innovation	Investissement annuel
Dépenses de R&D	468 millions de dollars
Cycles de développement de nouveaux produits	37 projets uniques

Gestion des relations basées sur la performance

Approche de suivi des performances et de gestion:

Métrique de performance	Cible 2024
Indice de satisfaction client	9.2/10
Taux de livraison à temps	97.3%
Taux de défaut de qualité	0.05%

Lear Corporation (LEA) - Modèle d'entreprise: canaux

Équipes de vente directes

Lear Corporation maintient 142 représentants mondiaux des ventes à partir de 2023, couvrant 16 régions de fabrication automobile primaires. Les revenus totaux de l'équipe de vente directe en 2022 étaient de 22,3 millions de dollars.

Amérique du Nord

Europe

Asie-Pacifique

Amérique du Sud

Région	Représentants des ventes	Volume des ventes annuelles

Salons de commerce automobile et conférences de l'industrie

Lear Corporation a participé à 27 conférences automobiles internationales en 2023, avec des frais d'exposition totaux de 4,7 millions de dollars.

• Salon de l'auto de Detroit
• Salon de Francfort
• Exposition automobile internationale de Pékin
• Salon de Tokyo

Plateformes de communication numérique

Les revenus des canaux numériques ont atteint 18,6 millions de dollars en 2022, avec 3,2 millions d'interactions de plate-forme numérique uniques.

Plate-forme numérique	Interactions utilisateur	Revenus générés
Site Web de l'entreprise	1,4 million	7,2 millions de dollars
Liendin	890,000	5,4 millions de dollars

Réseaux de fournisseurs automobiles stratégiques

Lear Corporation entretient des relations avec 287 fournisseurs automobiles stratégiques dans 22 pays, générant 12,9 milliards de dollars de revenus collaboratifs en 2022.

Processus de proposition technique et d'appel d'offres

En 2022, Lear Corporation a soumis 214 propositions techniques, avec un taux d'offre réussi de 68%, générant 9,3 milliards de dollars de revenus de nouveaux contrats.

Catégorie de proposition	Nombre de propositions	Taux de réussite
Systèmes de sièges	89	72%
Systèmes électriques	125	64%

Lear Corporation (LEA) - Modèle d'entreprise: segments de clients

Fabricants d'automobiles mondiaux

Lear Corporation dessert 18 des 20 meilleurs constructeurs automobiles mondiaux à partir de 2023.

Catégorie du fabricant	Nombre de clients	Couverture du marché
Fabricants nord-américains	7	38% de la clientèle
Fabricants européens	6	32% de la clientèle
Fabricants asiatiques	5	30% de la clientèle

Fabricants de véhicules électriques

Lear Corporation a établi des partenariats avec 12 fabricants de véhicules électriques dans le monde.

• Tesla
• Rivian
• Moteurs lucides
• Nio
• Byd

Marques de véhicules de luxe et de qualité supérieure

Lear Corporation fournit des composants à 9 marques de véhicules de luxe et de qualité supérieure.

Marque de luxe	Segment	Pourcentage de clientèle premium
BMW	Automobile de luxe	22%
Mercedes-Benz	Automobile de luxe	20%
Audi	Automobile de luxe	18%

Producteurs de véhicules commerciaux

Lear Corporation dessert 6 grands producteurs de véhicules commerciaux dans le monde entier.

• Camions de daimler
• Groupe Volvo
• Paccar
• Navistar International

Fabricants d'équipements d'origine (OEM)

Lear Corporation a des relations avec 25 clients OEM dans plusieurs segments automobiles.

Catégorie OEM	Nombre de clients OEM	Contribution des revenus
Véhicules de tourisme	15	65% des revenus OEM
Véhicules commerciaux	6	20% des revenus OEM
Véhicules électriques	4	15% des revenus OEM

Lear Corporation (LEA) - Modèle d'entreprise: Structure des coûts

Frais d'approvisionnement en matières premières

Pour l'exercice 2023, Lear Corporation a déclaré des frais d'approvisionnement en matières premières de 16,8 milliards de dollars, ce qui représente environ 65% du coût total des marchandises vendues.

Catégorie de matières premières	Dépenses annuelles ($ m)	Pourcentage du total
Cuir automobile	4,200	25%
Composants en acier	3,750	22.3%
Composants électroniques	3,300	19.6%
Plastiques	2,850	17%
Autres matériaux	2,700	16.1%

Coûts de fabrication et de production

Les coûts de fabrication et de production de Lear Corporation en 2023 ont totalisé 8,5 milliards de dollars, avec une ventilation comme suit:

• Coûts de main-d'œuvre directs: 3,2 milliards de dollars
• Frais généraux d'usine: 2,7 milliards de dollars
• Entretien de l'équipement: 1,4 milliard de dollars
• Énergie et services publics: 1,2 milliard de dollars

Investissements de recherche et développement

Les dépenses de R&D pour 2023 étaient de 912 millions de dollars, ce qui représente 3,6% des revenus totaux.

Zone de focus R&D	Investissement ($ m)
Systèmes électriques	312
Technologies de siège	276
Matériaux avancés	224
Développement de logiciels	100

Fais de main-d'œuvre mondiale et de main-d'œuvre

Les dépenses totales de main-d'œuvre pour 2023 étaient de 5,4 milliards de dollars, couvrant 136 000 employés dans 38 pays.

• Compensation moyenne des employés: 39 700 $ par an
• Total des dépenses des avantages sociaux: 1,2 milliard de dollars
• Formation et développement: 86 millions de dollars

Infrastructure de technologie et d'innovation

Les investissements en infrastructure technologique en 2023 ont atteint 650 millions de dollars.

Catégorie d'investissement technologique	Dépenses ($ m)
Systèmes informatiques	275
Technologies d'automatisation	215
Cybersécurité	90
Cloud computing	70

Lear Corporation (LEA) - Modèle d'entreprise: Strots de revenus

Contrats de fabrication d'équipements d'origine

Lear Corporation a déclaré que des ventes totales de 22,1 milliards de dollars en 2022. Les contrats de fabrication d'équipements d'origine (OEM) représentaient environ 75% du chiffre d'affaires total, équivalant à 16,575 milliards de dollars.

Catégorie de contrat OEM	Pourcentage de revenus	Montant des revenus (USD)
Systèmes de sièges automobiles	42%	9,282 milliards de dollars
Systèmes électriques	33%	7,293 milliards de dollars

Ventes de pièces automobiles du marché secondaire

Les ventes de pièces de rechange ont généré 3,5 milliards de dollars de revenus pour Lear Corporation en 2022, ce qui représente 16% du total des revenus de l'entreprise.

• Composants de siège de remplacement: 1,4 milliard de dollars
• Pièces du système électrique: 1,2 milliard de dollars
• Autres composants automobiles: 0,9 milliard de dollars

Frais de service d'ingénierie et de conception

Les services d'ingénierie ont contribué 825 millions de dollars aux revenus de Lear Corporation en 2022, représentant environ 3,7% du total des ventes.

Accords de licence de technologie

Les licences technologiques ont généré 275 millions de dollars de revenus, ce qui représente 1,2% du total des revenus de l'entreprise.

Ventes de composants automobiles mondiaux

Région géographique	Revenus (USD)	Pourcentage de ventes mondiales
Amérique du Nord	11,2 milliards de dollars	50.7%
Europe	6,8 milliards de dollars	30.8%
Asie-Pacifique	4,1 milliards de dollars	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.