Sales of $10.6 billion decreased 2%, compared to global light vehicle production down 7%Excluding foreign currency translation and acquisitions net of divestitures, sales in each segment outpaced global light vehicle productionReturned $403 million to shareholders through dividends of $119 million and $284 million in share repurchases2019 outlook reduced largely to reflect higher expected costs on… Continue reading Magna Announces First Quarter Results
Tag: Magna
Magna Celebrates Growing Footprint in China With Two Grand Opening Celebrations
Joint venture in Changsha produces lightweight, composite liftgates for fast-growing marketMagna wholly-owned Shanghai plant manufactures active aerodynamic grille shuttersInnovations help lower emissions and improve fuel economy for China customersSHANGHAI, April 30, 2019 (GLOBE NEWSWIRE) — Magna continues to grow its presence in China, as demonstrated by two recent grand opening celebrations.A new plant in Changsha,… Continue reading Magna Celebrates Growing Footprint in China With Two Grand Opening Celebrations
Magna Steyr Starts Production Of 2020 Toyota GR Supra
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Magna Steyr Starts Production Of 2020 Toyota GR Supra
25 Mar 2019, 12:27 UTC ·
by Mircea Panait
Home > News > Car Profile
Ah, outsourcing! If you were wondering, even Toyota is doing it because of the cost. After all, it’s cheaper to use the tooling and workforce of another company. And thus, the GR Supra is now manufactured in Graz, Austria instead of Motomachi, Japan.
71 photosThis turn of events shouldn’t come as a surprise considering the Supra is related to the Z4, and BMW has a long-running production partnership with Magna Steyr. On the other hand, we can’t imagine that the Austrians have the same quality assurance as Toyota in Japan. Adding insult to injury, the BMW parts utilized by the Supra aren’t the latest word in terms of reliability.
The question is, does reliability matter that much in a sports car? To each his own, but Mazda is a positive example in this regard with the MX-5 Miata. Even though the Supra is available with a 2.0-liter turbo in Europe, the German configurator takes reservations for configurations that start at €62,900.
Over in the United States, the Launch Edition retails at $55,250 and the Supra comes exclusively with the BMW-sourced turbo inline-six engine. Lower down the range, the 3.0 Premium is $53,990 while the 3.0 without Premium starts at $49,990 before destination charge.
Taking the Z4 sDrive30i for reference, the BMW starts at $49,700 with the 2.0-liter TwinPower Turbo inline-four engine. Looking at the bigger picture, both models are expensive from the get-go and both will be produced in limited numbers as a consequence.
Then again, sports cars aren’t selling too well these days. Crossovers and SUVs are at the forefront of demand, and every automaker in the industry is pouring resources into developing crossovers and SUVs as quickly as possible. It’s a matter of supply and demand, and there’s no reason to point the fingers at automakers for these circumstances.
As for the first-ever Supra to roll off the assembly line in Graz, Magna Steyr finished the car in phantom matte grey. The VIN is also special, including 20201 where 2020 marks the model year and 1 indicates the first example of the breed. If you were wondering , VIN 001 has been auctioned by Barrett-Jackson for $2.1 million, and all of the proceeds are going to the Bob Woodruff Foundation and American Heart Association.
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First Quarter 2019 Results Conference Call
AURORA, Ontario, April 24, 2019 (GLOBE NEWSWIRE) — Magna International Inc. (TSX:MG) (NYSE:MGA)INVESTOR CONTACTLouis Tonelli, Vice-President, Investor Relationslouis.tonelli@magna.com 905-726-7035 TELECONFERENCE CONTACTNancy Hansford, Executive Assistant, Investor Relationsnancy.hansford@magna.com 905-726-7108 Go to Source
Magna Continues to Expand in Morocco With New Mirrors Facility
Greenfield manufacturing plant being built in Kenitra, Morocco$11.3 million investment, 275 jobsStrategic growth to further support customers in the regionAURORA, Ontario, April 23, 2019 (GLOBE NEWSWIRE) — As the auto industry continues to develop in Morocco, Magna also continues to expand its footprint in the country. The company recently broke ground on construction of a… Continue reading Magna Continues to Expand in Morocco With New Mirrors Facility
SALES OF CARS AND LIGHT COMMERCIAL VEHICLES IN MARCH 2019
You are successfully registeres Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea. Go to Source
Magna Posts 2018 Annual Report
AURORA, Ontario, March 29, 2019 (GLOBE NEWSWIRE) — Magna International Inc. (TSX: MG; NYSE: MGA) today announced that its 2018 Annual Report, including Management’s Discussion and Analysis and Audited Consolidated Financial Statements, Annual Information Form (AIF) and Form 40-F, are now available on the company’s website, www.magna.com. Magna has also filed these documents with the… Continue reading Magna Posts 2018 Annual Report
Magna Closes Sale of Fluid Pressure & Controls Business to Hanon Systems
AURORA, Ontario, March 29, 2019 (GLOBE NEWSWIRE) — Magna announced today that it has completed the sale of its Fluid Pressure & Controls (FP&C) business to Hanon Systems, a South Korea-based global supplier of thermal and energy management systems, as previously announced.INVESTOR CONTACTLouis Tonelli, Vice-President, Investor Relationslouis.tonelli@magna.com, (+1) 905.726.7035MEDIA CONTACTTracy Fuerst, Global Director of Corporate… Continue reading Magna Closes Sale of Fluid Pressure & Controls Business to Hanon Systems
Hanon Systems Completes Acquisition of Global Fluid Pressure & Controls Business of Magna International Inc.
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UPDATE 4-Lyft valued at $24.3 bln in first ride-hailing IPO
(Reuters) – Lyft Inc was valued at $24.3 billion in the first initial public offering (IPO) of a ride-hailing startup on Thursday, raising more than it had set off to do as investors overlooked uncertainty over its path to becoming a profitable company. Lyft’s IPO sets the stage for the stock market debut of larger… Continue reading UPDATE 4-Lyft valued at $24.3 bln in first ride-hailing IPO