Auto parts maker Magna forecasts 2014 sales below estimates

Wed Jan 15, 2014 5:30am EST
 
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Jan 15 (Reuters) - Canadian auto parts maker Magna International Inc on Wednesday forecast sales for 2014 below analysts' expectations.

The company, one of the world's largest parts suppliers, said it expects total sales of $33.8 billion to $35.5 billion in 2014. Analysts on average were expecting $35.8 billion, according to Thomson Reuters I/B/E/S.

Magna International forecast operating margin in the mid-6 percent range for the year.