Magna expects as much as US$36 billion in global sales in 2015
Automotive parts maker Magna International Inc. estimates it will have between US$34.4- and US$36.1 billion of sales this year, about half of it from auto parts sales in North America.
The rest of Aurora, Ont.-based Magna’s revenue this year will come from autoparts sales in Europe, Asia and other regions, and between US$2.4- and US$2.7 billion from complete vehicle assembly.
Canada’s largest auto parts company, which reports in American dollars, Magna also estimates between US$1.5- and US$1.7 billion of capital spending this year, which would be above the US$1.4 billion that Magna has previously projected for 2014.
Total production sales are estimated in the range of $29.2 billion – $30.5 billion. Light vehicle production is estimated to be 17.3 million units in North America and 20.3 million in Europe.
Also, Magna expects total production sales for 2017 to be approximately $5 billion higher than 2015, based on assumed full year 2017 light vehicle production volumes of around 18.2 million units in North America and about 21.9 million units in Europe.