From January to March, 17,400 cars were made in the Grote Graz Magna factory, which is 22 percent less than in the previous year. A lot of uncertainty again brings the American customs policy. After all, Chinese orders generate new hope.
The vehicle supplier Magna, founded by Frank Stronach, generated considerably less sales in the first quarter than in the period of the previous year. Sales revenue fell from nearly eleven billion dollars by eight percent to $ 10.1 billion, the business profit fell from $ 469 to $ 354 million.
22 percent fewer cars
The sale also fell in Magna Austria. In this country, sales of the sale was almost $ 1.3 billion with $ 107 million under the previous year, but the win rose from $ 27 to $ 44 million. From January to March, 17,400 cars were made in the Grote Graz Magna factory, which is 22 percent less than in the previous year. The course of the production of the Jaguar I-Pace and E-Pace are noticeable. The starting Ineos also moved in a production level and the American manufacturer Fisker slid into bankruptcy.
Large order from China
This year in the spring, more positive news: it was announced that new car models from China should be manufactured in the Graz Magna factory from June. In particular, vehicles from the manufacturer of the electric car XPeng and the car manufacturer GAC must be installed in Styria. Prepared parts are delivered from Asia, in Styria the models are then completed and completed with axles and engines.
The American customs policy creates a lot of uncertainty. If orders are lost, hard measures may also be needed – also in Graz.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
