Magna International is one of the world's largest automotive parts suppliers, making components and systems sold to virtually every major global automaker. Magna operates across four segments: Body Exteriors & Structures (structural body parts, chassis systems, battery enclosures), Power & Vision (AWD/4WD systems, electric drive systems, ADAS electronics, mirrors, and lighting), Seating Systems (complete seat systems), and Complete Vehicles (contract assembly). Magna sells almost exclusively to OEMs under multi-year purchase orders tied to specific vehicle programs, with revenue directly tied to vehicle production volumes. Its six largest customers — GM, Mercedes-Benz, Ford, BMW, Volkswagen, and Stellantis — account for roughly 76% of sales. Average content per vehicle in North America is approximately $1,300. Margins are pressured by annual price concessions granted to OEM customers, which Magna offsets through cost reductions and commercial recoveries. The Complete Vehicles segment operates as a contract manufacturer, earning assembly fees rather than parts margins, producing significantly lower margins than the rest of the business. Strategically, Magna is focused on internal margin improvement through factory digitization, AI-enabled inspection, and robotics; growing its EV-related product portfolio (electric drive systems, battery enclosures); expanding ADAS through a collaboration with NVIDIA; and growing revenue from Chinese domestic OEMs, which now represent roughly 65% of Magna's China revenue.