Magna CEO Nods to Affordability Pinch as Autos Top $50,000 Mark

Magna International Inc. Chief Executive Officer Swamy Kotagiri said rising vehicle prices are intensifying affordability concerns for consumers, even as the auto-parts supplier remains largely insulated from new US tariffs due to its localized manufacturing footprint.

With average US new vehicles topping $50,000 early this year, buyers are seeking safety, comfort and convenience features while manufacturers juggle these demands with economic viability, Kotagiri said Friday in a Bloomberg Television interview.