The Globe and Mail reports in its Wednesday edition that Magna International is an industry-leading global automotive supplier, with sales derived principally from production in North America and Europe. The Globe's Jennifer Dowty writes that auto industry conditions are positive for Magna. On June 29, the Virginia-based National Automobile Dealers Association (NADA) hiked its 2015 sales forecast for new vehicles to 17.2 million from 16.9 million forecast in May. NADA anticipates sales will continue to grow in 2016, reaching 17.6 million. Sales growth is expected to continue, driven by improving economic conditions. Magna forecasts 2015 North American light vehicle production to be about 17.4 million units, up from 17 million units in 2014, and 2015 European light vehicle production to be about 20.2 million units, up from 20.1 million units in 2014. Robust sales growth is forecast for 2016 and 2017. At the end of the first quarter, Magna had $1.1-billion in cash on its balance sheet. There are 12 "buy" recommendations, eight "hold" recommendations, and no sells on this stock. The average one-year target price is $66.74, implying a potential return of nearly 19 per cent.