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Why Magna Expects Sales to Dip in 2020

TheMotleyFool

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Canadian auto-industry supplier Magna International (NYSE: MGA) said that it's ending its two-year self-driving collaboration with Lyft (NASDAQ: LYFT) as it braces for a potential sales decline in 2020.

Magna's 2020 outlook, released on Thursday, reiterated the company's prior forecast of revenue growth and profit-margin improvements between now and 2022. But the company said that economic headwinds could contribute to a decline in sales in 2020 versus 2019, and that it's calling off its deal with the ride-sharing upstart.

Image source: Magna International.

Source Fool.com

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