Magna – Page 4 – I wish I had more to offer

Magna Announces Third Quarter 2024 Results

Sales of $10.3 billion decreased in-line with the 4% reduction in global light vehicle production Diluted earnings per share were $1.68, up $0.31, largely reflecting recognition of Fisker deferred revenue Adjusted diluted earnings per share were $1.28, down $0.18, including $0.10 due to a higher income tax rate Normal Course Issuer Bid to purchase up… Continue reading Magna Announces Third Quarter 2024 Results

Aptiv implements additional cost-saving measures as EV transition slows

Auto supplier BorgWarner also cut its annual sales guidance to account for lower market production. Aptiv PLC said on Thursday that it has taken extra steps to boost profitability, after it cut its annual sales forecast, as the company adapts to a difficult market environment. Shares of Aptiv slumped over 17% in afternoon trade. The… Continue reading Aptiv implements additional cost-saving measures as EV transition slows

Jaguar no longer sells any new cars in UK as F-Pace axed from line up

New Jaguar F-Pace SUVs are no longer available in the UK, meaning the brand no longer sells any new cars in the market and won’t until its first next-generation model arrives in 2026. This follows the UK market axing of the XE, XF and F-Type, made at Castle Bromwich, and the E-Pace and I-Pace, assembled by Magna Steyr in… Continue reading Jaguar no longer sells any new cars in UK as F-Pace axed from line up

Aptiv implements additional cost-saving measures as EV transition slows

(Reuters) -Aptiv PLC said on Thursday that it has taken extra steps to boost profitability, after it cut its annual sales forecast, as the company adapts to a difficult market environment. Shares of Aptiv fell over 16% in early trade. The auto industry faced a bumpy second half of the year over competition from Chinese… Continue reading Aptiv implements additional cost-saving measures as EV transition slows

Magna price target lowered to $42 from $47 at RBC Capital

https://www.tipranks.com/news/the-fly/magna-price-target-lowered-to-42-from-47-at-rbc-capital RBC Capital lowered the firm’s price target on Magna (MGA) to $42 from $47 and keeps a Sector Perform rating on the shares as part of a broader research note previewing Q3 results for Auto suppliers. Sentiment on the suppliers is negative, and for good reason, as OEM commentary this earnings season suggests more… Continue reading Magna price target lowered to $42 from $47 at RBC Capital

Magna wins European OEM supply order for scalable, ICE-to-hybrid transmission

Magna is accelerating the industry’s move toward a cleaner future with the debut of its innovative Dual Clutch Transmission Eco (DCT Eco) solution for a European OEM. This contract marks the first high-volume award for the new transmission family and supports various models in global markets with ICE transmissions. While the awarded business is exclusively… Continue reading Magna wins European OEM supply order for scalable, ICE-to-hybrid transmission

Magna wins European OEM supply order for scalable, ICE-to-hybrid transmission

Magna Debuts Scalable, Eco-Friendly ICE to Hybrid Transmission for European OEM

First high-volume contract award for new product supports various vehicle models globally with ICE transmissions New modular Dual Clutch Transmission enables seamless hybrid transition on the same vehicle platform with minor changes Efficient and compact design with optimized torque-to-weight ratio results in lower CO² emissions, contributing to a cleaner future AURORA, Ontario, Oct. 29, 2024… Continue reading Magna Debuts Scalable, Eco-Friendly ICE to Hybrid Transmission for European OEM

Magna International Price Target Lowered to US$42 at RBC

Magna International Price Target Lowered to US$42 at RBC Go to Source