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The Latest Breaking News from Magna International Inc

XPeng Joins Forces With Magna To Build EVs In Austria

XPeng Inc. (NYSE:XPEV) has partnered with Magna International Inc. (NYSE:MGA) to assemble two electric vehicle models in Europe.

3 Auto Parts Stocks to Buy Now

3 Auto Parts Stocks to Buy Now

The auto parts industry is set for solid growth owing to the growing global demand for vehicles, technological innovations, and supportive government initiatives. Amid this, adding fundamentally sound auto parts stocks Magna International (MGA), Dorman Products (DORM), and Garrett Motion (GTX) to your portfolio appears to be a smart move.…

3 Automotive Stocks Gaining Speed in a Changing Industry

3 Automotive Stocks Gaining Speed in a Changing Industry

The automotive industry is well-positioned for significant growth thanks to the shift towards EVs and stricter environmental regulations. Amid this backdrop, it could be wise to buy automotive stocks, such as LKQ Corporation (LKQ), Magna International (MGA), and Garrett Motion (GTX), which are gaining speed in a changing industry. Continue…

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3 Top-Rated Auto Parts Stocks to Track

The demand for auto parts remains robust irrespective of the macroeconomic conditions. The industry’s growth is expected to get a boost due to several factors, including new vehicle sales growth, strong aftermarket sales, and a rise in automotive DIY. Therefore, it could be wise to track fundamentally strong auto parts…

3 Quality Dividend Stocks to Own During a Financial Crisis

Worried about a financial crisis? Quality dividend stocks are generally accepted as a safe haven.

3 Auto Stocks Flashing "Buy" Signals

With the integration of advanced technologies driving the auto parts industry toward a promising future, three fundamentally sound auto stocks, Magna International (MGA), Adient plc (ADNT), and Genuine Parts Company (GPC), could be ideal portfolio additions now. Read on….

3 Auto Parts Stocks Beating the Competition

Despite fears of a recession, the auto parts industry is well-positioned to grow thanks to its ability to survive various economic cycles. Fundamentally strong industry participants AutoZone (AZO), Genuine Parts Company (GPC), and Magna International (MGA) are outperforming their peers. Therefore, it could be wise to buy these stocks. Read…

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Auto supplier Magna bringing electric delivery robots to Metro Detroit

DETROIT — Canadian auto supplier Magna International Inc. is building an autonomous, electric delivery vehicle, it said Wednesday at the North American International Auto Show.

Tribune News Service

Magna Commences Production Of Mild Hybrid Transmission For BMW Group

Magna Commences Production Of Mild Hybrid Transmission For BMW Group

Magna International Inc (NYSE:MGA) has started the production of its mild hybrid transmission for Bayerische Motoren Werke AG (OTC:BMWYY). Magna's new 7-speed, mild hybrid dual-clutch transmission is the latest to be featured exclusively on BMW Group's compact class, accelerating its electric mobility transformation. The contract will also include the production of mild hybrid transmissions for…

Magna Clocks 5% Sales Decline In Q1; Cuts FY22 Outlook

Magna Clocks 5% Sales Decline In Q1; Cuts FY22 Outlook

Magna International Inc (NYSE:MGA) (TSX:MG) reported a first-quarter FY22 sales decline of 5.3%, to $9.64 billion, beating the consensus of $9.31 billion. Global light vehicle production growth was down 7%, primarily driven by a 16% decrease in Europe. Body Exteriors & Structures segment sales grew 1.3% Y/Y, Power & Vision fell 3.5%,…

Magna Opens New Facility In Slovakia

Magna Opens New Facility In Slovakia

Magna International Inc (NYSE:MGA) (TSX:MG) has opened a new plant in Kechnec, Slovakia, to expand its ADAS (Advanced Driver Assistance System) and electrification footprint. The brownfield facility will support two European automakers and a new global entrant. The facility is anticipated to begin operation in the fourth quarter of 2022 and will have an area…

Magna-LG JV Taps GM As Foundational Customer For New Facility In Mexico

Magna-LG JV Taps GM As Foundational Customer For New Facility In Mexico

LG Magna e-Powertrain, a joint venture (JV) between LG Electronics and Magna International Inc (NYSE:MGA), marked the groundbreaking of its new plant in Ramos Arizpe, Mexico. General Motors Co (NYSE:GM) is the foundational customer for the new facility. The new facility will produce inverters, motors, and on-board chargers to support General Motors' electric vehicle (EV) production. The 260,000…

Rivian Automotive Appoints Frank Klein As Operations Head

Rivian Automotive Appoints Frank Klein As Operations Head

Rivian Automotive Inc (NASDAQ:RIVN) has appointed Frank Klein as Chief Operations Officer (COO), effective June 1, 2022. Klein succeeds Rod Copes, who retired from the position last year. Klein will report to CEO RJ Scaringe. Frank most recently held the position of President at Austria-based automotive contract manufacturer Magna Steyr, a subsidiary of…

BMO Capital Downgrades This Automotive Supplier - Read Why

BMO Capital Downgrades This Automotive Supplier - Read Why

BMO Capital analyst Peter Sklar downgraded Magna International Inc (NYSE:MGA) to Market Perform from Outperform with a price target of $63, down from $89, implying an 11% upside. The analyst stated that he had previously seen a possibility of a timely resolution of the Ukraine/Russia conflict, but recent developments instead point to a protracted…

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Magna Clocks 14% Sales Decline In Q4 On Chip Shortages, Lags Consensus

Magna International Inc (NYSE:MGA) reported a fourth-quarter FY21 sales decline of 14% year-on-year, to $9.11 billion, missing the analyst consensus of $9.31 billion. Global light vehicle production declined 17%, primarily driven by the semiconductor chip shortages the industry has faced throughout 2021. Body Exteriors & Structures segment sales decreased 18% Y/Y, Power &…

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