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Magna chairman and founder Frank Stronach takes a call at the company's Aurora, Ont., headquarters. (J.P. MOCZULSKI/J.P. MOCZULSKI)
Magna chairman and founder Frank Stronach takes a call at the company's Aurora, Ont., headquarters. (J.P. MOCZULSKI/J.P. MOCZULSKI)

Magna expects growth in global sales Add to ...

Magna International Inc. says it expects its global sales will be in a range of $19.5-billion (U.S.) to $20.5-billion this year.

The outlook provided by Canada's largest auto parts maker is in line with 12 analyst estimates compiled by Thomson Reuters, and above their estimates for Magna's 2009 revenue.

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Magna and the auto industry in general are recovering from a disastrous year in which two of the three big U.S. auto makers, General Motors and Chrysler, survived only with the help of billions of dollars of taxpayer bailout money.

The Ontario-based company, based in Aurora, says its 2010 guidance assumes 10.3 million units produced in North America and 11.4 million units in Europe.

Magna's outlook also assumes no significant acquisitions or divestitures.



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