Half of total sales expected to come from North American manufacturing operations.
January 16, 2013
by PLANT STAFF with files from The Canadian Press
AURORA, Ont.—Magna International Inc. says it expects sales up to US$32.7 billion from its global operations in 2013.
The Canadian auto parts giant expects about half of its total sales will come from North American manufacturing operations.
“Our growing footprint in high growth markets, combined with our strong positions in North America and Europe, further enhances our ability to support our customers on global platforms,” said CEO Don Walker.
European parts sales will account for nearly one-quarter of Magna’s revenue in 2013.
The remainder will come from assembling complete vehicles and selling parts to automakers in other regions.
The company also expects an increase in total production sales over the two-year period from 2013 to 2015 of up to $2.2 billion, based on assumed full year 2015 light vehicle production volumes of approximately 16.7 million units in North America and approximately 12.8 million units in Western Europe. Total production sales are expected to be split by segment: 70% in North America and 40% in Rest of World, offset by a 10% decline in Europe.
Magna says its outlook reflects progress in expanding business beyond its traditional base of customers—the major American and European automakers.
The Ontario-based company estimates automotive manufacturers will produce 15.3 million vehicles in North America this year and 12 million in Europe.
Magna has 313 manufacturing operations and 88 product development, engineering and sales centres in 29 countries. The company employs 118,000 employees around the world.