Linamar Corp. recorded double-digit growth on both its top and bottom lines in the first quarter of 2024 as auto parts volumes bounced back from a slow comparable period a year earlier and recent acquisitions added to revenue.
Overall revenue across Linamar’s two reporting segments jumped 18.7 per cent to a record $2.7 billion, up from $2.3 billion in the first quarter of 2023. Hasenfratz said the mobility sector continues to “bounce back” from lows seen last year and is “on the way back” to normal margin levels. But the choppy transition to EVs will lead to some unpredictability for suppliers, she added.
Among other recent course corrections from automakers, Ford Canada said in April that it would delay production of its three-row battery-electric SUVs at its Oakville, Ont. plant to 2027 from early 2025.