Auto parts maker Magna sees $500 mln hit to sales from GM strike

Reuters | Nov 8, 2019 at 1:49 PM

Nov 8 (Reuters) - Canada's auto parts maker Magna International Inc on Friday said a labor strike at General Motors Co, its biggest customer, will potentially reduce full-year sales by about $500 million.

The strike will also hit consolidated margins by about 30 basis points, Magna said on a post-earnings conference call.