12:06:07 EDT Sun 13 Jul 2025
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 281,688,546
Close 2025-03-28 C$ 48.70
Market Cap C$ 13,718,232,190
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Globe says Magna holding off moving its factories

2025-03-31 07:50 ET - In the News

The Globe and Mail reports in its Saturday edition that auto executives estimate moving production to the U.S. will cost billions and take years to rebuild supply chains. The Globe's Eric Atkins writes that while tariff risks are seen as short-term, automakers are delaying some investments but are not relocating plants to the U.S. The same goes for the large Canadian auto parts makers: Magna International, Linamar and Martinrea International. All three have operations that span North America and the globe, and their U.S.-based customers -- and auto buyers -- will have to pay the Trump tariffs. Those costs will also be borne by Canadian car buyers, given the back-and-forth flows of auto parts before final assembly, not to mention any retaliatory tariffs. ATB's Chris Murray estimates the tariffs will add as much as $5,000 to the price of a car in Canada. This is at a time when consumer confidence is waning and stock markets are falling. "Does this end up damaging the North American market relative to other markets in the world?" Mr. Murray asks. Magna finance chief Patrick McCann said recently the company has no plans to move its factories and does not expect the automakers Magna supplies to do so, either.

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