The company said Wednesday it expects to outpace overall vehicle production growth by 2% to 4% annually and increase its adjusted operating margin by more than 200 basis points over the period. It is targeting average free cash flow conversion of at least 85% of adjusted net income.

Magna said existing business and awarded programs support more than 90% of its expected 2028 sales and over 60% of expected 2030 sales. Chief Executive Swamy Kotagiri said the company sees a path to grow faster than the market, expand margins and create long-term value for shareholders despite a modest growth environment.

Magna recently renewed its share buyback program and plans to complete the repurchase of almost 26 million shares over the next 12 months. The targets follow a late-October cut to its sales guidance, when the company cited lower expected vehicle production in China and the impact of product transitions.

For 2026, Magna now forecasts sales of $41.2 billion to $42 billion, down from its previous range of $41.3 billion to $42.5 billion.