Five Canada-based auto elements makers discover themselves on the 2022 Automotive News Top 100 Global Suppliers List.
The checklist, launched Monday, tracks gross sales to automakers from the earlier yr.
Magna International Inc., Linamar Corp., Martinrea International Inc., Multimatic Inc., and ABC Technologies landed on the checklist. All however ABC Technologies had been on the checklist a yr in the past.
Magna International Inc., primarily based in Aurora, Ont., remained fourth on the checklist. It’s the one Canadian firm within the high 5.
Magna had gross sales of $36.2 billion (all figures in USD) to automakers worldwide, up 11 per cent over 2020. The firm was additionally North America’s largest provider.
Despite the rise, Magna has been speaking with automakers about methods to strike a greater steadiness financially.
“We continue our discussions with customers at various levels almost on a daily basis,” Magna CEO Swamy Kotagiri stated throughout a name with analysts in April.
He stated talks between Magna, the most important North American auto provider, and automakers have been “open and transparent” however typically “tough.”
“Going forward, we will try to reflect the new economics in our primary markets in North America and Europe,” Kotagiri stated. “Inflation has been stable and modest for a long time, as an example, but now it’s high. … We are looking at different arrangements going forward to see how we can recover the increased costs.”
Here is how the opposite Canadian firms within the high 100 fared:
- Linamar Corp. of Guelph, Ont., moved as much as six spots to 54 from 60 on the checklist with $3.7 billion in gross sales, up from $3.2 billion a yr in the past;
- Martinrea International Inc. of Vaughn, Ont. climbed 10 rungs up the ladder, touchdown at No. 63, up from No. 63 final yr. It posted $2.95 billion in gross sales, up from $2.44 billion in 2019;
- Multimatic Inc. of Markham, Ont., edged up one spot to No. 95, with an estimated $1.19 billion in gross sales. That was up from the $1.06 billion the yr earlier than.
- ABC Technologies of Toronto got here in at No. 97 after lacking the highest 100 a yr in the past. It did $971 million in gross sales, up from the $823 million in 2020.
Robert Bosch and Denso Crop. And ZF Friedrichshafen all managed to take care of the highest three spots, respectively.
With information from Automotive News.
Source: canada.autonews.com
