Supplier and contract vehicle assembler Magna expects consolidated total sales for 2011 between US$25.6bn and $27.1bn and consolidated production sales between $21.7bn and $22.7bn, based on full year 2011 light vehicle production volumes of approximately 12.9m units in North America and 13.3m units in western Europe.
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Full year 2011 production sales are seen between $12.7bn and $13.2bn in North America, between $7.8bn and $8.1bn in Europe and between $1.2bn and $1.4bn in the rest of the world.
Complete vehicle assembly sales are pegged at $2.4bn to $2.7bn.
Magna expects a net increase in total production sales over the two-year period from 2011 to 2013 of approximately $3bn, based on assumed full year 2013 light vehicle production volumes of approximately 14.8m units in North America and approximately 14.1m units in western Europe with the increase split approximately equally among North America, Europe and rest of world segments.
Magna CEO Don Walker said: “As 2011 begins, vehicle production is poised for future growth in a number of important markets for us, including North America. Accordingly, our outlook reflects significant sales growth, including expansion in high-growth markets in the next few years. We also have the balance sheet, cash flow generation, engineering and manufacturing footprints, technologies and motivated workforce to support our growth initiatives around the world. These factors combined leave us confident about Magna’s future.”
