Autoliv Gives Financial Update

(Stockholm, March 24, 2009) – – – Autoliv Inc.– the global leader in automotive safety systems – today provided an update on its GM and Chrysler exposure, liquidity position, rationalization efforts and capital expenditures trend.

In order to adapt to continued lower global light vehicle production, Autoliv has accelerated the pace of rationalization efforts significantly and has reduced headcount by 3,000 during the first two months this year, resulting in a headcount reduction of 20% or almost 9,000 since June 2008. Of the reductions this year, 2,600 were permanent employees and 400 temporary personnel.

At the end of February 2009, Autoliv’s accounts receivable in North America with General Motors and Chrysler were approximately $20 million each.

Upcoming capital market debt maturities during the remainder of 2009 amounted to $279 million compared to $892 million in cash and utilized long-term credit facilities on February 28, 2009. There are no financial covenants (i.e. performance related restrictions) for these credit facilities. As planned, the Company drew an additional $300 million in March for two months from its revolving credit facility primarily for debt maturiting in March and April.

In its latest outlook, Autoliv announced that it expected capital expenditures net to decline from $279 million in 2008 to a range of $200-$250 million. Since then capital expenditures have been adjusted to the lower vehicle production and are at an estimated annualized run rate of approximately $160 million during the first quarter.

Inquiries:
Jan Carlson, President & CEO, Autoliv Inc +46 8 587 20 600 eller +1 519 973 3799