American Axle & Manufacturing Holdings, Inc., together with its subsidiaries, designs, engineers, and manufactures driveline and metal forming technologies that supports electric, hybrid, and internal combustion vehicles.
During 2024, the company launched 11 programs across its business units for its customers, including GM, Stellantis, Mercedes-AMG, and Audi.
Segments
The company’s business is organized into Driveline and Metal Forming segments.
Driveline products consist primarily of fron...
American Axle & Manufacturing Holdings, Inc., together with its subsidiaries, designs, engineers, and manufactures driveline and metal forming technologies that supports electric, hybrid, and internal combustion vehicles.
During 2024, the company launched 11 programs across its business units for its customers, including GM, Stellantis, Mercedes-AMG, and Audi.
Segments
The company’s business is organized into Driveline and Metal Forming segments.
Driveline products consist primarily of front and rear axles, driveshafts, differential assemblies, clutch modules, balance shaft systems, disconnecting driveline technology, and electric and hybrid driveline products and systems for light trucks, SUVs, CUVs, passenger cars and commercial vehicles; and
Metal Forming products consist primarily of engine, transmission, driveline and safety-critical components for traditional internal combustion engine and electric vehicle architectures, including light vehicles, commercial vehicles and off-highway vehicles, as well as products for industrial markets.
Major Customers
The company is a primary supplier of driveline components to General Motors Company (GM) for its full-size rear-wheel drive (RWD) light trucks, sport utility vehicles (SUV), and crossover vehicles manufactured in North America, supplying a significant portion of GM's rear axle and four-wheel drive and all-wheel drive (4WD/AWD) axle requirements for these vehicle platforms. The company also supplies GM with various products from its Metal Forming segment. Sales to GM were approximately 42% of the company’s consolidated net sales in 2024.
The company also supplies driveline system products to Stellantis N.V. (Stellantis) for programs, including the heavy-duty Ram full-size pickup trucks and its derivatives. In addition, the company sells various products to Stellantis from its Metal Forming segment. Sales to Stellantis were approximately 13% of the company’s consolidated net sales in 2024.
The company is also a supplier to Ford Motor Company (Ford) for driveline system products on certain vehicle programs, including the Bronco Sport, Maverick, Edge, Escape, and Lincoln Nautilus, and the company also sells various products to Ford from its Metal Forming segment. Sales to Ford were approximately 13% of the company’s consolidated net sales in 2024.
Business Strategy
The company has aligned its business strategy to build value for its key stakeholders. The company accomplishes its strategic objectives by capitalizing on its competitive strengths and continuing to diversify its customer, product and geographic sales mix, while providing exceptional value to its customers. The company focuses on securing and enhancing its core business of manufacturing products that support internal combustion engine (ICE) vehicle programs by delivering operational excellence and quality products to its customers, while growing its hybrid and electric vehicle business, as end-user acceptance of these vehicle types is expected to grow in the future.
Diversification of Customer, Product and Geographic Sales Mix
In addition to maintaining and building upon the company’s long-standing relationships with GM, Stellantis and Ford, it is focused on generating profitable growth with new and existing global customers. Recent new business awards and program launches include customers, such as Xpeng DiDi, Dongfeng, and Skywell.
The company focuses on increasing its presence in global markets to support its customers' platforms. As its customers design their products for global markets, they will continue to require global support from their suppliers. To expand its global capabilities, the company has established business offices and engineering centers of excellence in research and development, product testing and prototype development in North America, Europe, and Asia. The company continues to evaluate and consider strategic opportunities that will complement its core strengths, supplement its diversification strategies and increase its presence in global markets, while providing future, profitable growth prospects.
Seasonality
Typically, the company’s business is moderately seasonal as its major OEM customers historically have an extended shutdown of operations (normally 1-2 weeks) in conjunction with their model year changeover and an approximate one-week shutdown in the month of December. The company’s major OEM customers also occasionally have longer shutdowns of operations for program changeovers.
Research and Development
The company’s research and development expense, net of engineering, design and development recoveries, included $159.0 million in 2024.
History
American Axle & Manufacturing Holdings, Inc. was founded in 1994. The company was incorporated in 1998.