Magna reported a strong Q4 and has seen margin expansion for three consecutive years despite flat auto production. Magna is "powertrain agnostic." Whether the market shifts to EVs, Hybrids, or stays ICE, Magna supplies the components (seats, mirrors, drive systems) for all. They are insulated from the specific "EV vs. Gas" brand wars. LONG. A picks-and-shovels play on the auto industry. Global auto production recession.