Magna CEO says clarity on headwinds key to finding right solutions amid uncertainty

Bloomberg05-12

TORONTO — Magna International Inc. chief executive Swamy Kotagiri says the auto industry can’t make it through the heightened economic and geopolitical uncertainties without clarity about the desired ...

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Canadian consumers are also watching their wallets and prioritizing value.Kotagiri says the problems facing the industry can’t be solved by one policy.He says if the goal is to sustain the existing auto industry and keep workers employed, the strategy would focus on stability and investments that minimize disruption.If the focus is affordable vehicles for Canadian drivers, Kotagiri says the policies should shift to driving competition, scale and speed of production.There’s also an urgent need for building resiliency and capabilities in the auto industry, which the Magna CEO says requires policies to reduce dependency on a single system or regime and investing in capabilities or skills, instead of specific factories.This report by The Canadian Press was first published May 12, 2026.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.2","shortVersion":"4.42.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2635245109","isCrawlerRequest":true}