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Tag Archives: Swamy Kotagiri
Magna Names Philip D. Fracassa CFO
“I would like to extend my gratitude to Pat for his significant contributions and partnership, particularly during a dynamic period in the global economy and our industry,” said Swamy Kotagiri, Magna President and Chief Executive Officer. “On behalf of the entire Magna team, we wish him the very best in his future endeavors.”
“Phil is a seasoned financial leader with a strong track record of delivering results and driving transformation,” said Kotagiri. “His experience and perspective will be invaluable as we continue executing our strategy and advancing Magna’s financial position. I am looking forward to partnering with Phil on our continued journey,” said Kotagiri. Continue reading
Magna Posts Q2 2025 EBIT of $583 Million
Magna International (TSX: MG; NYSE: MGA) today reported relatively robust Q2 and H1 financial results in the midst of Trump’s ongoing tariff chaos and his hostility toward our Canadian friends, neighbors and business partners.
“Our strong operating results for the second quarter of 2025 exceeded our expectations and reflect continued execution on our performance initiatives, including operational excellence, restructuring, commercial recoveries, and reduced capital and engineering spending,” said Swamy Kotagiri, Magna Chief Executive Officer. Continue reading
Trump Tariff Pandemic is Crisis for the U.S. Auto Industry
Swamy Kotagiri the Chief Executive Officer of MAGNA spoke to the Automotive Press Association this week in Michigan about the complexities of the global automobile industry. He spoke as global volumes are relatively flat and volumes in North America and Europe are down. Now programs are being canceled after the investments are made. Volumes are being reduced after the capacity is installed.
“There is increased spending over a smaller number of units. This is sub-optimal for returns. And what does our industry look for? Scale and we need stability to be efficient through the value chain, given how the industry works to be efficient,” said Kotagiri, whose next big event is the Shanghai Motor Show at the end of the month to be held in the midst of the ongoing Trump versus the world trade wars. Last year MAGNA did ~$5.5 billion in sales in China, growing 15%. Continue reading
Posted in auto news, economy, engineering, manufacturing, mobility company, news analysis, shows and events, Trump Truth Tests
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Ken Zino, magna, Magna International, Swamy Kotagiri, X @KenAutoinformed
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Magna Results Reflect Turmoil in OE EV Programs
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
Magna Buys Veoneer Active Safety Business
“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
Magna Posts Solid Q3 2025 Earnings Gain
Magna (TSX: MG. NYSE: MGA) today posted U.S. $613 million EBIT Q3 2025 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 approximately 25.3 million of Magna Common Shares, representing 10% of the public float of Common Shares. 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 →