DAILY NEWS Aug 11, 2014 12:07 PM - 0 comments

Record sales for Magna in Q2 2014

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Auto parts maker Magna International Inc. reported $510 million in net income during the second quarter of the 2014, up from $415 million in the same period a year ago.


Aurora, Ont.-based Magna also posted record sales of $9.46 billion in the quarter – an increase of six per cent over the same period last year.


The sales increase came during a period which saw vehicle production increase three per cent in North America and two per cent in Europe.


Magna’s complete vehicle assembly sales fell to $793 million in the quarter compared to $796 million a year ago.


The Magna board of directors declared a quarterly dividend of 38 cents for the quarter ended June 30.


Magna is a global automotive supplier with more than 13,000 employees at 317 manufacturing sites and 83 product development, engineering and sales centres in 29 countries.

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