Opel bidder Magna International on Friday reported an operating loss of US$237m (down $556m) and a net loss of $205m (off $432m) for the second quarter of 2009 after vehicle production declined 49% year on year to 1.8m units in North America and 28% to 3.1m units in Europe.
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Magna’s North American and European average dollar content per vehicle decreased 10% and 7% respectively and complete vehicle assembly sales by the Magna Steyr unit in Austria fell 60% to $423m as volume declined 65% to around 14,100 units.
Total sales fell 45% to $3.7bn in the second quarter.
First half vehicle production fell 50% to 3.5m units in North America and 34% to 5.6m units in Europe, North American and European average dollar content per vehicle was down 3% and 5% respectively, complete vehicle assembly sales were off 61% to $824m and complete vehicle assembly volume dived 69% to approximately 26,100 units. Total sales were down 45% to $7.3bn.
As a result, the operating loss was $467m and the net loss $405m; huge falls of $1.1bn and $839m respectively.
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