13
Aug
11:33
Auto supplier Magna International hit by EV slowdown
Canadian auto supplier Magna International Inc. has reviewed its 2026 outlook due to a “tempered view” on mid-term EV penetration rates, particularly in North America.
Projected sales for 2026 have been trimmed to $44-46.5 billion from $48.8-51.2 billion previously, Kallanish reports.
The Ontario-based company admits that sales and profitability may be hit by OEMs cancelling or deferring future EV programmes or reducing production volumes, especially …
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Very good overview of the weekly steel market.
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