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Magna (TSX: MG. NYSE: MGA) today posted Q3 2025 earnings of U.S. $613 million (EBIT) compared to $594 million in the third quarter of 2024. Subject to the approval by the Toronto Stock Exchange, the Magna Board of Directors approved a new Normal Course Issuer Bid (NCIB) to purchase up to ~25.3 million of Magna Common Shares, representing 10% of the public float. This NCIB is expected to be effective on 7 November 2025 and will terminate no later than 6 November 2026.
“Our strong third quarter performance exceeded our expectations and underscores the resilience of our business amid dynamic operating conditions and evolving macroeconomic trends. These results reflect the strength of our global team and the effectiveness of our strategic execution,” said Swamy Kotagiri, Magna Chief Executive Officer. Continue reading
Volkswagen ID – Money Back in 100 Days
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In a marketing move that likely will have international implications, Volkswagen* in the U.K. today announced the so-called ID. Promise. This allows its retail electric car customers between 80 and 100 days after collection to ‘drive and decide.’ The time frame in which people can return vehicles is from the point that they take delivery of their new cars. They just need to inform their retailer, who will then arrange a refund minus a 3% fixed usage charge, as well as the cost to repair any damage or modifications to the cars since they were handed over.**
“Official figures show more than 1.3 million UK motorists have already converted to electric, and time and time again our customers tell us they would never go back to petrol or diesel having made the move,” said Rod McLeod, Director of Volkswagen UK. “But there are many more people who want to go electric but feel unsure. This straightforward initiative gives them the perfect opportunity to ‘drive and decide’ with no strings attached.” Continue reading →