Magna International Inc. said Friday that COVID-19 lockdowns in China and a stronger U.S. dollar relative to other currencies, particularly the euro, negatively impacted the company's second-quarter results.
There is also some risk moving forward that high inflation and rising interest rates will impact auto consumers, he noted. The results compared with earnings of US$424 million or US$1.40 per diluted share in the same quarter of 2021.
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