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Magna releases 2021 outlook on declined light vehicle production

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COVID-19

Light vehicle production said to decline by 7% in North America and 9% in Europe

Magna expects total sales for 2021 to be in the range of USD35.4 to USD36.4 billion, compared to USD38.0 to USD39.5 billion, due to the expected decline in 2021 light vehicle production, it said in a press release on 20 October. “Adjusted EBIT Margin is now expected to be in the 5.1% to 5.4% range, compared to 7.0% to 7.4% in our August outlook.”

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