Canada's Magna International on Thursday raised its sales forecast for fiscal 2025, on the back of sustained demand for parts, sensors and electrified powertrain systems.

Demand for parts and sensors has picked up as automakers strive to push out more electrified vehicles with advanced driver aid systems such as driving monitoring systems, park assist and adaptive cruise control.

The Canadian auto-parts supplier now expects its full-year 2025 total sales to be between $46.7 billion and $49.2 billion, compared with its prior forecast of $44.7 billion and $47.2 billion.

Magna is expected to provide more details on its outlook and the industry at its investor day conference later in the day.

(Reporting by Nathan Gomes in Bengaluru; Editing by Shilpi Majumdar)