The Canadian auto-parts maker expects lower sales than it had projected, due in part to a strong U.S. dollar and lower light-vehicle production in Europe. The company has also ended its partnership with Lyft, in which Magna invested US$200 million to build self-driving cars. The company said it might still collaborate with Lyft on software and hardware manufacturing for autonomous cars. (The Logic)

Talking point: Global auto sales were low across the board in 2019, and analysts expect the trend to continue this year. Manufacturers are trying to correct course by investing in new technology, which is fuelling competition in the electric- and self-driving-car space. Tesla has already established itself as the clear winner in the former category (its cars are also equipped with vast self-driving features), while leaders in the self-driving space are less clearly defined. Alphabet-owned Waymo has been testing driverless cars since 2017, and Toyota recently signed a partnership with Chinese startup Pony.ai to build autonomous vehicles in that country; Ford and GM are also among those shifting resources to self-driving. That Magna is losing anticipated sales revenue while also walking back its long-term strategy to retool its business with higher-tech products could set it behind its rivals at a pivotal time for the industry.