Canadian auto parts maker Magna International Inc forecast 2010 sales of $19.5 billion to $20.5 billion and said it would spend $750 million to $800 million for fixed assets during the year.
The budget will support new and replacement business in its traditional markets as well as investment to expand into high-growth emerging markets, Magna, which failed to buy a stake in General Motors Co's European operations last year, said in a statement.
Magna also forecast full-year light vehicle production volumes of about 10.3 million units in North America and about 11.4 million units in Europe.
The company said it expects 2010 complete vehicle assembly sales to be between $1.6 billion and $1.9 billion. The Aurora, Ontario-based company said average dollar content per vehicle is expected to be between $895 and $925 in North America and between $545 and $570 in Europe. Last year, Magna and Russian state-controlled Sberbank tried to buy a stake in GM's Opel unit until GM decided to keep it. (Reporting by Ajay Kamalakaran in Bangalore; Editing by Gopakumar Warrier)