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Magna FY2019 sales down 3.4% y/y to USD39.43 billion

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Financial results

GM's labour strike was cited among the reasons for the lower sales and profitability

Canada-based automotive technology firm Magna has released its financial results for the FY2019 period. In a press release dated 21 February, the company reported sales of USD39.43 billion for the fiscal year of 2019, which was a drop of 3.4% y/y. The company registered sales of USD40.83 billion during FY2018.

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