Trucking along through the global pandemic
Dana’s light vehicle markets consist of rear-wheel drive, four-wheel drive and all-wheel drive vehicle, as well as hybrid and electric vehicles. Dana reports that, due to the COVID-19 (coronavirus) pandemic, the global light-truck market contracted by 13% from 2019 levels. As the economy continues to recover, the global demand for light-trucks is gradually improving. Dana reports that in 2021, global light-truck markets are up 5% since 2020. The outlook for 2022 is positive. Dana expects global light-truck production to return or even surpass 2019 levels of productions.
COVID|Balance SheetIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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