AURORA, Ontario — Magna International Inc. has reported financial results for the fourth quarter and year ended Dec. 31, 2010.

The company posted sales of $6.6 billion for the fourth quarter ended Dec. 31, 2010, an increase of 22 percent from the fourth quarter of 2009. This higher sales level was a result of increases in the company’s North American, European and Rest of World production sales, complete vehicle assembly sales and tooling, engineering and other sales.

During the fourth quarter of 2010, North American and European average dollar content per vehicle increased by 17 percent and 6 percent, respectively, each compared to the fourth quarter of 2009. In addition, North American and European vehicle production both increased 7 percent, compared to the fourth quarter of 2009.

Complete vehicle assembly sales increased 19 percent to $608 million for the fourth quarter of 2010 compared to $512 million for the fourth quarter of 2009, while complete vehicle assembly volumes increased 59 percent to approximately 25,000 units.

During the fourth quarter of 2010, operating income was $222 million, net income was $216 million and diluted earnings per share were $0.88, increases of $347 million, $355 million and $1.50, respectively, each compared to the fourth quarter of 2009.

During the fourth quarter ended Dec. 31, 2010, the company generated cash from operations of $415 million before changes in non-cash operating assets and liabilities, and generated $499 million from non-cash operating assets and liabilities. Total investment activities for the fourth quarter of 2010 were $445 million, including $305 million in fixed asset additions, $98 million to purchase subsidiaries, and $42 million in investments and other assets.

The company posted sales of $24.1 billion for the year ended Dec. 31, 2010, an increase of 39 percent from the year ended Dec. 31, 2009. This higher sales level was a result of increases in the company’s North American, European and Rest of World production sales, complete vehicle assembly sales and tooling, engineering and other sales.

During the year ended Dec. 31, 2010, vehicle production increased 39 percent to 12.0 million units in North America and 12 percent to 13.3 million units in Europe, each compared to 2009.

Also during 2010, the company’s North American and European average dollar content per vehicle increased 13 percent and 8 percent respectively, each compared to 2009.

Don Walker, Magna’s CEO, said, “In 2010, Magna benefited from a strong recovery in vehicle production, both in our primary markets of North America and Western Europe as well as globally. We are positioned to capitalize on continued growth in global vehicle production in 2011 and beyond, as we further expand our manufacturing footprint in a number of growing regions of the world.”