The Globe and Mail reports in its Saturday, Nov. 4, edition that Magna International boss Swamy Kotagiri says the six-week auto workers strike in the United States cost Magna $310-million (U.S.) in sales, with industry production falling by 220,000 vehicles. The Globe's Eric Atkins writes that Magna, however, still managed to raise its yearly outlook and posted higher sales and profit for the third quarter, as global auto production continued its recovery after pandemic-related disruptions. The third quarter results, which beat expectations, sent Magna's share price soaring $5.76 (Canadian) to close Friday in Toronto at $73.13 (Canadian). Magna saw sales rise 15 per cent year-over-year, to $10.7-billion (U.S.), in the three months ended Sept. 30. Excluding currency rates and other items, sales rose 10 per cent. This outpaces the overall car industry's sales increase of 2 per cent, Mr. Kotagiri told analysts on a conference call Friday. Magna posted a profit of $394-million (U.S.) or $1.37 (U.S.) a share, compared with $289-million (U.S.) or $1 (U.S.) a share, in the same quarter last year. Mr. Kotagiri warns that the rosier global outlook is at risk from higher labour costs, inflation and geopolitical turmoil.