Magna International expects full year consolidated sales in 2008 of between $US24.9bn and $26.2bn, based on light vehicle production volumes of approximately 14.4m units in North America and approximately 15.6m in Europe.

This is down from Magna's most recent estimate for 2007 of between $25bn and $26.3bn.

Full year 2008 average dollar content per vehicle is expected to be between $855 and $885 in North America and between $440 and $465 in Europe. Complete vehicle assembly sales are forecast between $3.6bn and $3.9bn.

Full year spending for fixed assets is seen in the range of $875m to $925m.

"This amount reflects continuing investment to support new and replacement business in our traditional markets as well as investment to expand into high-growth emerging markets, specifically Russia and various Asian countries," the Toronto, Canada-based supplier said in a statement.