Magna International expects up to $32.7 billion of sales globally this year

Canadian autoparts giant Magna International Inc. says it expects between US$31.3 billion and US$32.7 billion of sales globally this year.

Magna says it expects about half of its total 2013 revenue will come the sale of parts to North American manufacturing operations.

European parts sales will account for nearly one-quarter of Magna’s revenue in 2013.

The remainder will come from assembling complete vehicles and selling parts to automakers in other regions.

Magna says its outlook reflects progress in expanding business beyond its traditional base of customers _ the major American and European automakers.

The Ontario-based company estimates automotive manufacturers will produce 15.3 million vehicles in North America this year and 12 million in Europe.