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.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
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.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
