Magna has posted third quarter net income up 47% to US$470m, with sales of US$8.82bn, an increase of 6% compared to the same period last year.
The supplier notes the sales increase occurred as vehicle production increased 8% in North America and 4% in Europe, both relative to the third quarter of 2013.
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In Q3, Magna’s North American and Asian production sales, complete vehicle assembly sales and tooling, engineering and other sales increased, while its European and Rest of World production sales decreased.
Complete vehicle assembly sales increased 9% to US$740m for the third quarter of 2014, while complete vehicle assembly volumes decreased 5% to around 32,000 units.
Magna nine-month sales were US$27.25bn, up 6%.
