The Globe and Mail reports in its Thursday, Nov. 6, edition that Magna International's bottom line and its share price are benefiting from surging North American vehicle sales and production. The Globe's Greg Keenan writes that the United States market is moving closer to the 17 million annual vehicle sales level that was a regular feature of the years before the 2008-2009 recession. Meantime, the Canadian market is on pace to shatter the record for annual deliveries hit last year. Magna's third quarter profit jumped 47 per cent to $470-million from $319-million a year earlier (all figures U.S.). Sales rose 6 per cent to $8.8-billion from $8.3-billion. Adjusted earnings before interest and taxes rose in North America, Europe and Asia, while adjusted losses fell in the company's rest of world segment, which consists mainly of South America. Magna revised its outlook for full-year sales, raising the low end of its sales forecast to $35.8-billion from $35.6-billion and reducing the top end of the range to $37-billion from $37.3-billion. Magna intends to seek regulatory approval to buy back 20 million shares during the next year, which would require about $2-billion in cash.