/

Browse Magna International articles

Magna Reports Higher-Than-Expected Profit for the First Quarter


Today, April 10th, auto parts maker Magna International reported an increase for the first quarter higher than analysts’ estimates, thanks to strong sales in North America. Magna’s revenues increased 9%, and net income rose to $369 million ($1.57 per share) during the first quarter, compared with $343 million ($1.46 per share) in 2012. Sales increased 9% to $8.36 billion, compared with ...
Read more

related more
spacer
spacer

More Magna International articles

Russian Auto Output to Increase Risking Overcapacity
Analysts believe that Russian auto industry is close to reach the same overcapacity problem with which the rest of Europe confronts. The warning comes after Avtotor Holding formed a partnership in ...
Canada extends investment fund for auto industry for another 5 years
Canada's Prime Minister Stephen Harper announced the renewal of funding for the Canadian auto industry totaling 250 million Canadian dollars. The Automotive Innovation Fund allows manufacturers to apply for funding for ...
Magna Signs Deal With Avtotor Holding to Enter Russia
Canadian Magna International will enter the Russian market by teaming up with automaker Avtotor Holding. The auto-parts maker Magna International and Avtotor Holding will set up 6 full-cycle vehicle-assembly operations for ...
Infiniti cancels plan to have its compact model built by Magna Steyr
Infiniti, Nissan's luxury subsidiary, has cancelled plans to build its new front-wheel-drive compact car in Austria at the Magna Steyr plant. "Although we would have liked to see the assembly of ...
Magna International founder plans new Austrian party
Frank Stronach, the man behind Magna International Inc, one of the world's biggest auto parts manufacturers plans to launch a political party in Austria in September, Deutsche Wirtschafts Nachrichten reports. "The ...
Magna Reveals Profitable Q4 2011 as sales post big gains
Magna International Inc., the North America's largest automobile parts manufacturer reported a big jump in quarterly earnings on Thursday that easily beat analysts' expectations as vehicle production soared in North ...
Magna International request 600-million dollars from Porsche
According to an Austrian newspaper, Magna International wants at least $600-million ( ~ 400.000 million Euros ) in compensation from sports-car maker Porsche for cancelling a contract. Austrian newspaper WirtschaftsBlatt quoted ...
GM criticized for keeping Opel, doubts raised about sale
As General Motors' new board of directors became more immersed in the automaker's business, it began to question more and more the idea of selling off a majority stake in ...
Magna focusing on core business after Opel saga
Magna International Inc is not looking at taking over any other automakers following the collapse of its deal to buy a stake in General Motors Co's European operations, the auto ...

latest automotive news
Geneva motor show’s greatest rides
We’re again feeling decidedly subjective on this one, but here’s my personal pick of the greatest rides that could be ...
New Ford GT to be priced similarly to the Lamborghini Aventador
The new generation of the Ford GT supercar will be produced in just 250 units annually and it will be ...
Recall roundup: Hyundai Elantra for power steering issues
The Hyundai Elantra is the subject of a new recall announced by the NHTSA because of problems with the electrically ...
Europe: Fiat brand to axe mass-market position in the region
According to Fiat Chrysler Automobiles NV chief executive officer Sergio Marchionne, the company’s namesake Fiat brand will give up for ...
McLaren 675LT online configurator introduced
The online configurator for the McLaren 675LT has been introduced recently introduced by the British based automaker. McLaren is moving with ...
Lotus CEO hints at approaching SUV model to lift sales
Lotus Group chief Jean-Marc Gales has none of the preoccupations of other auto industry leaders – such as developing driverless cars ...
Recall roundup: Dodge Challenger SRT Hellcat and Charger SRT Hellcat
The brand new and extremely powerful Dodge Challenger SRT Hellcat and Charger SRT Hellcat are the subject of a recall ...
Report – Chevrolet’s upcoming affordable electric car could be seen as Opel model in Europe
According to undisclosed company sources, General Motors might expand the sales of the upcoming Chevrolet Bolt electric car into Europe, ...
Porsche 911 GT3 RS – online configurator introduced
The online configurator for the recently unveiled Porsche 911 GT3 RS has been recently launched by the German based automaker. If ...
[VIDEO] Ferrari 488 GTB – official promo released
Ferrari has released the first promotional video with the recently unveiled 488 GTB, in which you can see the new ...
FAB Design McLaren 12C Spider unveiled
A completely modified version of the McLaren 12C Spider, signed by FAB Design, has been recently unveiled by the tuning ...
Germany: VW and IG Metall union agree on pay raise and pensions
Volkswagen Ag, the world’s second largest automaker and the biggest in Europe and Germany will give its home workers a ...
Ford believes UK should not leave the European Union
The second largest US automaker, Ford Motor, has a significantly large manufacturing presence in the United Kingdom for years, which ...
Chevrolet teasing 2016 Malibu for New York
The 2016 Chevrolet Malibu will be officially presented to the public during the 2015 New York Auto Show, which will ...
[VIDEO] Teaser – McLaren Sports Series going to New York
McLaren has released yet another teaser video with the upcoming Sports Series, which will be officially presented to the public, ...
PSA Peugeot Citroen’s return to benchmark index adds to signs of recovery
PSA Peugeot Citroen, the second largest carmaker in Europe, will now make a comeback to France's benchmark CAC-40 index, according ...
UK – Abarth 500 Bi-Colore Edition launched
Abarth has launched the 500 Bi-Colore Edition in the United Kingdom where orders for the model are currently accepted. The brand ...
Mercedes-Benz SL 417 Mille Miglia Special Edition debuts in Geneva
Mercedes-Benz has brought the new SL 417 Mille Miglia Special Edition to the 2015 Geneva Motor Show, as this will ...