Magna International Inc. (MGA - Free Report) announced that it has introduced D-Optic LED headlamps. D-Optic headlamps combine several high-power LEDs with precise, injection-molded lenses to improve the performance. This will improve forward visibility for drivers as well as provide customized styling options for automakers.
D-Optic lighting is unique for automotive applications as it is scalable and is suited to a vehicle's particular shape and styling. In order to suit with all kinds of designs, LEDs and lenses can be added or subtracted accordingly. The new headlamps are set to make their debut during the 2018 Chevrolet Traverse.
Aurora, Canada-based Magna International is a leading manufacturer and supplier of automotive components. The company designs, develops and manufactures automotive systems, assemblies, modules and components, apart from engineering and assembling complete vehicles, primarily for sale to original equipment manufacturers (OEMs) of cars and light trucks.
Shares of Magna International have outperformed the Zacks categorized Automotive - Original Equipment industry in the last three months. While the stock has risen 2.1%, the industry has gained 1.5%.
Currently, Magna International carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the auto space include Allison Transmission Holdings Inc. (ALSN - Free Report) , Dana Incorporated (DAN - Free Report) and Ferrari N.V. (RACE - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Expected long-term growth rates for Allison Transmission, Dana and Ferrari are 11%, 3% and 14.1%, respectively.
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