Electric car, the alarm of the unions: “At risk the only existing chain in the Turin area and 46 jobs”

“A further mockery for Turin and Piedmont – continues Chiarle – that would not be able to retain the only car series manufacturer in the territory, in addition to FCA. For years, the FIM has asked that the institutions and the policy take charge of a project in support of the electrical supply chain which… Continue reading Electric car, the alarm of the unions: “At risk the only existing chain in the Turin area and 46 jobs”

Magna Announces First Quarter Results

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

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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Ride to future: Auto firms are crafting new strategies to stay on track

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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

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