Magna projects 2008 sales of $25.5 billion to $26.8 billion

NEW YORK—Canada-based auto supplier Magna International Inc. said Thursday it expects to post 2008 sales of $25.5 billion to $26.8 billion.

Analysts polled by Thomson Financial expect the company to post $25.63 billion in sales for the year.

The company's projection is based on expected full-year 2008 light-vehicle production volumes of about 14.2 million units in North America and 15.6 million in Europe.

Full year 2008 average dollar content per vehicle is expected to total between $845 and $875 in North America and between $485 and $510 in Europe.

Complete vehicle assembly sales are expected to total between $3.9 billion and $4.2 billion, Magna said.

Magna shares rose $3.23, or 4.3 percent, to $77.86 in midday trading.