The acquisition gives Magna four new facilities and more than 1,100 new employees.
The new engineering center will support the growing vehicle accessibility market in China.
A sharp drop in Detroit Three sales pulled purchases below 1.9 million units for the first time in over three years, a new report from Scotiabank said.
The competition calls for entries from students around the world, with the winner to be announced during the 2019 Los Angeles Auto Show.
Canadian auto sales contracted by 1.9% year-over-year for an eighth consecutive month of annual declines in October, Scotiabank’s latest Global Auto Report says, but ticked up by 3.1% from September in seasonally-adjusted terms.
Shuttering the Oshawa plant represents a loss of about 10 per cent of Canada’s auto parts industry, said APMA head Flavio Volpe.
The plant, which employs more than 2,500 workers, produces cars such as the Chevrolet Impala and the Cadillac XTS.
Spurred by rising disposable incomes and continuously changing lifestyles, the increasing production of cars and commercial vehicles will grow the global automotive plastic market at a CAGR of 11.91% from now until 2023, the new report from Research and Market said.
An investigation found that Inoac entered into illegal agreements with a competing Japanese manufacturer to determine who would win certain calls for bids issued for parts for Toyota Corollas manufactured and sold in Canada between 2008 and 2014.
Sales of passenger cars for several major auto companies dipped, a new report from DesRosiers said.
Germany-based Haptronik’s software will bolster Magna’s SmartAccess power door technology.
With a production area measuring 6,000 square meters, the plant has the capacity to produce more than 360,000 seat sets per year.
But auto sales in the U.S. jumped to an annualised level of more than 17 million units in September, Scotiabank said, beating expectations.
The sale to South Korea-based Hanon Systems reflects Magna’s focus on being a “full-system supplier of transmission and other driveline-related systems,” Magna said.
The joint venture will support Morocco’s growing automotive export production.
Auto sales growth has also slowed down markedly in the U.S. and Mexico, a new report from Scotiabank says.
Thin, flexible lighting creates many new possibilities for design and product differentiation, Magna said.
The Trump administration is calling on Canada to endorse the recent agreement reached by the U.S. and Mexico, which featured important decisions made by the two countries on autos.
Adoption of composite-grade HPPs could take the global market past US$3 billion by 2024, a new study by Frost & Sullivan says.
Inapal, headquartered in Portugal, is a Tier One supplier of composite components to the automotive and heavy truck industries.