Global auto sales expanded at a solid pace in the first half of 2018: reportby Canadian Plastics
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.
Japan’s Asahi Kasei acquiring Sage Automotive Interiors for $1.1 billionby Canadian Plastics
Sage, founded in 2009 and located in Greenville, S.C., is a Tier 2 supplier of seat fabric and other automotive interior applications.
Magna wins three innovation awards from SPE Europeby Canadian Plastics
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.
Magna to acquire OLSA and expand lighting businessby Canadian Plastics
The $352-million deal will make Aurora, Ont.-based Magna a global lighting supplier.
Viking Plastics buys automotive supplier Genesis Plastics and Engineeringby Canadian Plastics
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.
Former Magna exec Manfred Gingl is new head of IACby Canadian Plastics
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 promises to use 25 per cent recycled plastics in cars from 2025by Canadian Plastics
Volvo has already produced a one-off XC60 plug-in hybrid using recycled parts to illustrate the potential of this raw material reduction.
Magna partners with Michigan startup to retrofit self-driving shuttlesby Canadian Plastics
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.
Canadian vehicle sales fall for third consecutive month: Scotiabankby Canadian Plastics
But sales in the U.S. continue to beat expectations on the back of strength in trucks, Scotiabank’s new report says.
Auto parts supplier Grammer buying U.S. component maker Toledo Molding & Dieby Canadian Plastics
The acquisition is designed to diversify Grammer’s footprint in making thermoplastic applications for the automotive industry.
China to cut auto import taxes as of July 1by Canadian Plastics
Charges for many imported vehicles will be cut from 25 per cent to 15 per cent, the country’s Finance Ministry said.
Magna opens new aluminum casting facility in the U.K.by Canadian Plastics
The 225,000-square-foot facility will employ approximately 300 people and will supply structural castings to Jaguar Land Rover.
Magna announces record first quarter resultsby Canadian Plastics
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.
Two Ontario Toyota plants to get $1.4 billion upgradeby Canadian Plastics
The Cambridge, Ont. and Woodstock, Ont. factories will become Toyota’s North American manufacturing hub for the RAV4.
Magna wins GM Supplier of the Year awardsby Canadian Plastics
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…
Global automotive plastics market to exceed $50 billion by 2024: reportby Canadian Plastics
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.
Ford to stop making sedans for North America by 2022by Canadian Plastics
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.
Instrument cluster market to be worth $10 billion by 2023: reportby Canadian Plastics
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.
Canadian vehicle sales down in March: Scotiabankby Canadian Plastics
But U.S. sales were much stronger than expected last month, Scotiabank said, buoyed by healthy economic activity.
Magna signs composite liftgate JV with Chinese automakerby Canadian Plastics
Aurora, Ont.-based Magna signed the joint venture deal with a subsidiary of state-owned automotive giant Guangzhou Automobile Group Co. Ltd.