Auto parts supplier Magna International Inc. is expecting sales of up to US$32.7 billion from its global operations in 2013, half of which will come from the sale of parts to North American manufacturing operations.
“Our growing footprint in high growth markets, combined with our strong positions in North America and Europe, further enhances our ability to support our customers on global platforms,” CEO Don Walker said in a statement.
European parts sales will account for nearly one-quarter of Aurora, Ont.-based Magna’s revenue in 2013, with the remainder expected to come from assembling complete vehicles and selling parts to automakers in other regions.
The company also expects an increase in total production sales over the two-year period from 2013 to 2015 of up to $2.2 billion, based on assumed full year 2015 light vehicle production volumes of approximately 16.7 million units in North America and approximately 12.8 million units in Western Europe. Total production sales are expected to be split by segment: 70% in North America and 40% in Rest of World, offset by a 10% decline in Europe.
Magna says its outlook reflects progress in expanding business beyond its traditional base of customers—the major American and European automakers.
The company estimates automotive manufacturers will produce 15.3 million vehicles in North America this year and 12 million in Europe.
Magna has 313 manufacturing operations and 88 product development, engineering and sales centres in 29 countries. The company employs 118,000 employees around the world.