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Canadian auto parts maker Magna International Inc reported better-than-expected quarterly sales, helped by demand in the United States.

Magna also raised its full-year operating margin forecast on Thursday. The company sold much of its vehicle interiors business, typically a lower-margin business, to Spain’s Grupo Antolin in April.

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U.S. auto sales rose in the first three months of the year, helped by low gasoline prices and easier availability of credit.

Magna’s quarterly sales, however, were hurt by a strong dollar as the company gets nearly half of its total revenue from outside North America.

The dollar has surged 19 per cent against a basket of major currencies in the past 12 months, making sales denominated in other currencies less valuable in dollar terms.