Magna raises 2023 profit forecast, flags impact from UAW strikes

- Canadian auto parts supplier Magna International raised its 2023 profit forecast on Friday, but flagged an impact from the United Auto Workers union strike in North America.

Magna, which has an exposure of 13%-15% to GM, Ford and Chrysler-parent Stellantis, said its outlook reflected an impact from the UAW strikes at certain customers, but did not provide further detail. The company also raised its forecast assumption for light vehicle production in Europe and China but retained its prior assumption for North America.Investors can earn a regular and predictable monthly income by investing in this REIT. The post This 8.3% Dividend Stock Pays Cash Every Month appeared first on The Motley Fool Canada. -- Costco Wholesale Corp.

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Magna raises 2023 profit forecast, flags impact from UAW strikesSuppliers have benefited from an uptick in demand for their auto parts, software and tech as vehicle makers around the globe rush to push out safer vehicles ...
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