Magna Soon Without Mini

Are you a short seller who is on the hunt for companies that are worse off than European carmakers?  Look for parts makers that are also in the contract manufacturing business. OEMs may lose sales, but contract manufacturers lose whole contracts when manufacture is brought in-house by OEMs. Magna is likely to lose the contract with BMW to build the next generation of Mini cars, says Reuters. Austrian Magna Steyr produces the Mini Countryman and will begin producing the Paceman later in the year, but possibly not for long. "We let Magna Steyr produce the Countryman and the Paceman, but in the mid-term we are looking at concentrating Mini production in two locations, namely Oxford and NedCar," a BMW spokesman told Reuters. from The Truth About Cars http://www.thetruthaboutcars.com

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