QUOTE AND NEWS
NPR  Apr 10  Comment 
Toy mogul Isaac Larian, head of MGA Entertainment, has launched a $1 billion GoFundMe campaign to save the bankrupt toy chain. "I will make Toys R Us a fun place again," he tells NPR.
Insurance Journal  Apr 3  Comment 
Castel Specialty, the division of club-style MGA formation platform Castel Underwriting Agencies Ltd., has added a global property facultative reinsurance offering to its portfolio. Paul Witzenfeld joins Castel Specialty to underwrite a book of...
Clusterstock  Mar 21  Comment 
Magna International's Magna Steyr unit is the largest contract manufacturer of autos in the world. It builds vehicles for BMW and Mercedes, among others. We asked the CEO if he could help Tesla Elon Musk get the Model 3 out of production...
Benzinga  Mar 16  Comment 
Magna International Inc. (USA) (NYSE: MGA) announced a multiyear partnership with Lyft this week — and a $200-million investment in the ride-hailing service — to develop and manufacture self-driving systems at scale. The strategy puts the...
Wall Street Journal  Mar 15  Comment 
Lyft Inc. agreed to develop hardware and software for self-driving vehicles with auto-parts supplier Magna International Inc., the latest in a string of deals by the ride-hailing company aimed at getting robot cars on the road.
Clusterstock  Mar 14  Comment 
Lyft on Wednesday announced a partnership with automotive components supplier Magna to develop self-driving car technology. As part of the deal, Magna is investing $200 million in Lyft. Magna is just one of several companies with which Lyft is...




 
TOP CONTRIBUTORS

Magna International Inc. is a leading component manufacturer, supplier of all wheel drive systems, and vehicle assembler. The company is one of the largest North American suppliers of original equipment components, assemblies, modules and systems, and related tools for cars and light trucks. The company is also a global supplier of technologically advanced automotive components, systems and modules. The company designs, engineers and manufactures a range of exterior, interior and powertrain systems. Magna also provides vehicle design, engineering, assembly and program management services to its customers. The company's operations are conducted through its global automotive systems groups. The company operates through three segments: North America, Europe, and Rest of World (consisting of primarily South America an Asia). DaimlerChrysler, Ford, and General Motors are the major customers of the company, collectively accounting for around 70% of Magna's revenue.


Magna enjoys a strong competitive position in the industry as it is one of the few providers of a complete range of interior and exterior auto systems to global auto companies. Increasing content per vehicle (CPV) is the main driver of Magna's growth. CPVs in both North America and Europe have been increasing over time.

The company is a major provider of interior and exterior systems to automotive companies. Some of the prominent new product launches driving CPV growth include Chevy Equinox, Chevy Cobalt, SAAB 9-3 and BMW X3. The key platforms boosting CPV growth rate in North America are Chrysler minivans, Chrysler Pacifica, Chrysler 300, 300c, and Ford F-150. Simultaneously in Europe, the Mercedes B class, Honda Civic, BMW01 series, and Land Rover discovery are supporting CPV growth. Recently, Magna agreed to develop and produce the MINI sports activity vehicle for the BMW Group. With this, the company expects its annual sales to be more than $1 billion. Magna also has a strong balance sheet with cash and cash equivalents amounting to $1.7 billion.

The company has strong relationships with GM, Ford, and DaimlerChrysler. It has been recognized as an important supplier by all these automakers. Additionally, the bankruptcy filing by the component supplier Delphi Corporation has provided Magna with various business opportunities. Moreover, MGA has been awarded the transfer case business by Nissan. These trends make us believe that MGA will gain new businesses in the coming quarters. Further, GM has launched new full-size SUVs that will further strengthen demand for MGA's product line.




References

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