The Globe and Mail reports in its Tuesday, June 3, edition that Magna International's share price has plummeted about 60 per cent since its 2021 high. The Globe's David Berman writes that as one of the largest auto parts suppliers globally, Magna is facing severe challenges amid a downturn in vehicle production. Central banks' interest rate hikes have contributed to this decline, and while inflation has eased, consumer confidence has dropped due to uncertain U.S. tariff policies. In its latest quarterly results, Magna posted a year-over-year decrease in U.S. and European light vehicle production of 5 per cent and 8 per cent. Sales in the first quarter dropped 8 per cent year-over-year, while earnings fell 28 per cent. Investors are concerned about future performance amid trade chaos and a shift in U.S. electric vehicle policy, which explains why shares trade at only nine times trailing earnings. What is more, Magna has taken on a lot of debt since acquiring Veoneer Active Safety for $1.5-billion (U.S.) in 2023. The purchase increased Magna's leverage ratio to a lofty 2.5. Magna aimed to reduce this ratio to below 1.5 times earnings before interest, taxes, depreciation and amortization by the end of 2024.