Tag Archives: Swamy Kotagiri

Oh Canada – Magna Q3 Sales Off but Net Earnings Up

Posted on 1 November 2024 by Ken Zino

“We continue to mitigate industry headwinds including lower production volumes in each of our core regions. Our ongoing initiatives and results to date reinforce our conviction in our free cash flow outlook this year and beyond. As we continuously seek to optimize value creation, we are resuming share repurchases in the fourth quarter –ahead of our prior plan,” said Swamy Kotagiri, Magna’s Chief Executive Officer. Continue reading →

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Magna Results Reflect Turmoil in OE EV Programs

Posted on 2 August 2024 by Ken Zino

AutoInformed notes that Magna’s challenge as a global diversified supplier to automakers going forward is adopting to and making money from the delay, elimination or reduced volumes in larger automaker EV programs while retaining or increasing sales from the now extended life of vehicles  with internal combustion engines and their potential freshening and updates with increased content that this likely entails. Continue reading →

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Magna Buys Veoneer Active Safety Business

Posted on 1 June 2023 by Ken Zino

“Our electronics team, now with more than 7200 employees, including 3500 in engineering, can better accelerate (sic) the development of premium features and functions at scale. Magna will also benefit from an expanded geographic footprint and customer reach in key automotive regions around the world with nine facilities and 30 engineering/sales locations dedicated to active safety,” Kotagiri said. Continue reading →

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