Contract Manufacturer – Page 5 – I wish I had more to offer

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

Stoneridge Reports Third Quarter 2024 Results

MirrorEye Becomes Standard Equipment on Several European Truck Platforms MirrorEye OEM Programs to Launch with Daimler Truck North America and a European Brand Year-to-Date Cash Performance Improved $31.3 million vs. Same Period in 2023 2024 Third Quarter Results Sales of $213.8 million Gross profit of $44.5 million Adjusted gross profit of $44.6 million (20.9% of… Continue reading Stoneridge Reports Third Quarter 2024 Results

German FAZ: “Politicians should withdraw from VW”008056

All German car manufacturers are navigating towards crisis, but nowhere does it look as bleak as at VW in Wolfsburg. Three plants in Germany and tens of thousands of jobs are up for grabs, and profits fell by two thirds in the third quarter. The extent of the crisis is not the only thing that… Continue reading German FAZ: “Politicians should withdraw from VW”008056

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

Valmet’s Interim Review January 1 – September 30, 2024: Record-high third quarter margin, but slower market activity than expected

ESPOO, Finland, Oct. 30, 2024 /PRNewswire/ — Figures in brackets, unless otherwise stated, refer to the comparison period, i.e., the same period of the previous year. July–September 2024: Orders received increased to EUR 1,041 million Orders received increased 6 percent to EUR 1,041 million (EUR 980 million). Orders received increased in the Services and Automation segments… Continue reading Valmet’s Interim Review January 1 – September 30, 2024: Record-high third quarter margin, but slower market activity than expected

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