2024 Outlook:
We disclose a full-year Outlook annually in February with quarterly updates. The following Outlook is an update to our previous Outlook in February 2024.
Updated 2024 Outlook Assumptions
| Current | Previous | ||||
| Light Vehicle Production (millions of units) North America Europe China | 15.717.429.0 | 15.717.428.3 | |||
| Average Foreign exchange rates:1 Canadian dollar equals1 euro equals | U.S. $0.725U.S. $1.065 | U.S. $0.740U.S. $1.080 | |||
Updated 2024 Outlook
| Current(2) | Previous | ||||
| Segment Sales Body Exteriors & Structures Power & Vision Seating Systems Complete Vehicles | $17.3 – $17.9 billion$15.4 – $15.8 billion$5.4 – $5.7 billion$5.0 – $5.3 billion | $17.4 – $18.0 billion$15.8 – $16.2 billion$5.5 – $5.8 billion$5.6 – $5.9 billion | |||
| Total Sales | $42.6 – $44.2 billion vs. consensus of $44.50B | $43.8 – $45.4 billion | |||
| Adjusted EBIT Margin(3) | 5.4% – 6.0% | 5.4% – 6.0% | |||
| Equity Income (included in EBIT) | $120 – $150 million | $120 – $150 million | |||
| Interest Expense, net | Approximately $230 million | Approximately $230 million | |||
| Income Tax Rate(4) | Approximately 22% | Approximately 21% | |||
| Adjusted Net Income attributable to Magna(5) | $1.5 – $1.7 billion | $1.6 – $1.8 billion | |||
| Capital Spending | $2.4 – $2.5 billion | Approximately $2.5 billion |
