The Canadian automotive parts maker – which has manufacturing operations in all three NAFTA countries, China and throughout Europe – reduced its estimate for total sales in 2018 by 1.4 per cent from its previous outlook.
The drop was led by poor Fiat-Chrysler sales, which recorded their worst month since early-2014.
But cracks are beginning to appear in certain emerging economies, a new report from Scotiabank says, and the threat of rising U.S. protectionism seems to have impacted vehicle sales in China.
Sage, founded in 2009 and located in Greenville, S.C., is a Tier 2 supplier of seat fabric and other automotive interior applications.
A thermoplastic liftgate takes top spot in the body exteriors category, a carbon fibre subframe wins first place in the chassis category, and a thin-wall torsional welding process wins the enabling technology category.
The $352-million deal will make Aurora, Ont.-based Magna a global lighting supplier.
Viking said the purchase of Indiana-based genesis adds to its current line of custom injection molded products and assemblies for the automotive, HVAC, and industrial markets.
Gingl, 69, was the CEO of Magna Aftermarket from 2008 to 2010, after having served as executive vice chairman of Magna International Inc. from 2002 to 2007.
Volvo has already produced a one-off XC60 plug-in hybrid using recycled parts to illustrate the potential of this raw material reduction.
Aurora, Ont.-based Magna will retrofit May Mobility’s low-speed self-driving electric transit vehicles with custom doors, a panoramic moon roof, drive-by-wire technology, and sensor integration.
But sales in the U.S. continue to beat expectations on the back of strength in trucks, Scotiabank’s new report says.
The acquisition is designed to diversify Grammer’s footprint in making thermoplastic applications for the automotive industry.
Charges for many imported vehicles will be cut from 25 per cent to 15 per cent, the country’s Finance Ministry said.
The 225,000-square-foot facility will employ approximately 300 people and will supply structural castings to Jaguar Land Rover.
Buoyed by strong sales in its complete vehicles segment, automotive parts supplier Magna International Inc. reported record quarterly sales in Q1 2018, up 21 per cent year-over-year to $10.79 billion.
The Cambridge, Ont. and Woodstock, Ont. factories will become Toyota’s North American manufacturing hub for the RAV4.
Automotive parts supplier Magna International won two General Motors Supplier of the Year awards at the GM’s 26th annual Supplier of the Year awards ceremony in Orlando, Fla. One example of the lighting that Aurora, Ont.-based Magna supplies GM is…
The size of the North American automotive plastics market shows steady gains, the report from Global Market Insights Inc said, and is expected to exceed US$5 billion by 2024.
The automaker said the changes, meant to improve profitability, include getting rid of all cars for the North American market except for the Mustang sports car and Focus crossover.
And driven by increasing production and the growth of government regulations, the global market for instrument clusters will be worth US$9.02 billion in 2018, the report from MarketsandMarkets says.