Supplier Profile: Magna
Though the company was burned by the failed acquisition of Opel, 4Q 2009 results show losses narrowing and sales increasing.
2009 has been a tough year with vehicle manufacturers shedding jobs and sales levels declining at the highest rate for over 25 years. Annual sales fell 21% in US to reach 10.4 million units, the lowest level since 1982. Though the end of 2009 saw a slight upturn, as December US sales rose 15.1% over December 2008. China saw massive improvement in sales on 2009 with sales up 46% compared with 2008, to reach 13.6 million units.
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