UPDATE 1-Magna International raises sales forecast after profit beat
* Expects 2013 total sales of $33.3 bln-$34.7 bln
* Sees 2013 total production sales of $27.7 bln-$28.7 bln
* 2nd-quarter earnings per share $1.78 vs est $1.64
* Sales rise 16.1 pct to $8.96 bln vs est $8.56 bln
Aug 9 (Reuters) - Canadian auto parts maker Magna International Inc reported a stronger-than-expected 19 percent rise in second-quarter profit and raised its sales forecast for the year, buoyed by increased vehicle production in North America.
The company raised its sales forecast for the year to $33.3 billion-$34.7 billion from $32.6 billion-$34 billion.
Magna also raised its expected total production sales for the year to be between $27.7 billion and $28.7 billion, up from its previous forecast range of $27.2 billion-$28.2 billion.
Production sales are Magna's core business of manufacturing vehicle parts and exclude its smaller vehicle assembly and tooling operations.
Net income rose to $415 million, or $1.78 per share for the quarter ended June 30, from $349 million, or $1.48 per share, in the same period last year.
Sales rose 16.1 percent to $8.96 billion
Analysts on average had expected a profit of $1.64 per share on revenue of $8.56 billion, according to Thomson Reuters I/B/E/S.
Aurora, Ontario-based Magna's fortunes are closely linked to the health of the U.S. vehicle market and Detroit's Big Three - Ford Motor Co, General Motors Co and Fiat SpA's Chrysler.
The automakers have seen a steady recovery since the industry bottomed in 2008 and 2009 with bankruptcies by GM and Chrysler.