Magna reported $4.08 billion in first-quarter sales from its body exteriors and structures unit, up 1.3 percent from a year earlier. It attributed the gain to the launch of new parts programs for models, including the Jeep Grand Cherokee, Ford Maverick and Ford Bronco, which offset lower vehicle production elsewhere.
Revenue from its power and vision unit fell 3.5 percent to $3.05 billion, while seating systems revenue jumped 5.6 percent to $1.38 billion.
Magna’s European-based complete vehicle assembly business took a big hit in the first quarter, with revenue plunging 31 percent to $1.28 billion in the first quarter. It produced about 24,600 vehicles for automakers, compared with about 40,000 a year earlier.
Magna ranks No. 4 on the Automotive News list of the top 100 global suppliers with $32.6 billion in worldwide sales to automakers in 2020.
