Magna sets bullish sales, EBIT targets for seating by 2022

摘要

Aurora, Ontario - Automotive seating giant Magna is projecting a 4.8% growth in seating sales to between S6.3-6.8bn by the end of 2022. The Canadian company reports in US dollars. It predicts sales growth in all geographic regions, but said this is likely to be strongest in Asia and Europe. Magna currently has high exposure to the SUV segment, and this remains a positive, it said in an analysts' presentation. It added that it expects to benefit from new BMW 1 and 2 Series launches in Europe. Outside Europe, it believes that there is scope of sales to grow in Asia.