Dana Incorporated (Dana) provides power-conveyance and energy-management solutions for vehicles and machinery.
The company's portfolio improves the efficiency, performance, and sustainability of light vehicles, commercial vehicles, and off-highway equipment. From axles, driveshafts, transmissions, sealing and thermal products to electrification products, including motors, inverters, controllers, e-sealing, e-thermal and digital solutions, the company enables the propulsion of internal combustio...
Dana Incorporated (Dana) provides power-conveyance and energy-management solutions for vehicles and machinery.
The company's portfolio improves the efficiency, performance, and sustainability of light vehicles, commercial vehicles, and off-highway equipment. From axles, driveshafts, transmissions, sealing and thermal products to electrification products, including motors, inverters, controllers, e-sealing, e-thermal and digital solutions, the company enables the propulsion of internal combustion engine (ICE), hybrid and electric powered vehicles by supplying nearly every major vehicle manufacturer in the world. The company also serves the stationary industrial market. The company operates in 30 countries.
Segments
The company operates through four operating segments: Light Vehicle Drive Systems (Light Vehicle), Commercial Vehicle Drive and Motion Systems (Commercial Vehicle), Off-Highway Drive and Motion Systems (Off-Highway) and Power Technologies.
Light Vehicle
This segment’s products include Axles, Driveshafts, ICE, hybrid and e-transmissions, e-Axle systems, e-Transmission systems, inverters, electric motors, and controllers
Customers: The company’s largest customers include Ford Motor Company; Stellantis N.V.; Toyota Motor Corporation; Tata Motors Ltd (including Jaguar Land Rover); Renault-Nissan-
Commercial Vehicle
This segment’s products include axles, driveshafts, hybrid and e-transmissions, e-Axle systems, e-Transmission systems, inverters, electric motors, and controllers.
The company’s customers include PACCAR Inc; Traton SE; AB Volvo; Daimler Truck AB; Ford Motor Company; and CNH Industrial N.V.
Off-Highway
This segment’s products include axles, hub drives and driveshafts; ICE, hybrid and e-transmissions; e-Axle systems; e-Transmission systems; e-Hub drive systems; inverters; electric motors; and controllers.
Customers: The company’s customers include Deere & Company; Oshkosh Corporation; AGCO Corporation; CNH Industrial N.V.; Manitou Group; and Terex Corporation.
Power Technologies
This segment’s products include ICE sealing and thermal; e-Sealing; e-Thermal cooling systems; battery cooling; electronics cooling; hydrogen fuel cell cooling; and new power industrial cooling.
Customers: The company’s customers include General Motors Company; Ford Motor Company; Cummins Inc.; Stellantis N.V.; Volkswagen AG (including Traton SE); and Mercedes-Benz Group AG.
Geographic Operations
The company maintains administrative and operational organizations in North America, Europe, South America and the Asia Pacific to support its operating segments, assist with the management of affiliate relations and facilitate financial and statutory reporting and tax compliance on a worldwide basis. The company’s non-U.S. subsidiaries and affiliates manufacture and sell products similar to those it produces in the United States.
Customer Dependence
The company is largely dependent on light vehicle, medium- and heavy-duty vehicle and off-highway original equipment manufacturer (OEM) customers. Ford Motor Company (Ford) and Stellantis N.V. (Stellantis) were the only individual customers accounting for 10% or more of its consolidated sales in one or more of the past three years. As a percentage of total sales from operations, the company’s sales to Ford were approximately 23% in 2024. The company’s sales to Stellantis (via a directed supply relationship) were approximately 8% in 2024. Volkswagen AG (including Traton SE), PACCAR, Inc and Toyota Motor Corporation were the company’s third, fourth and fifth largest customers in 2024. The company’s 10 largest customers collectively accounted for approximately 58% of its sales in 2024.
Seasonality
However, in the light vehicle market, the company’s sales are closely related to the production schedules of its OEM customers and those schedules have historically been weakest in the third quarter (year ended December 31, 2024) of the year due to a large number of model year changeovers that occur during this period. Additionally, third-quarter production schedules in Europe are typically impacted by summer vacation schedules and fourth-quarter production is affected globally by year-end holidays.
Competition
Light Vehicle: The company’s competitors include American Axle & Manufacturing Holdings, Inc.; Magna International Inc.; BorgWarner Inc.; Schaeffler AG; Hofer Powertrain GmbH; Valeo SE; Jing-Jin Electric Technologies Co. Ltd.; ZF Friedrichshafen AG; and Linamar Corporation.
Commercial Vehicle: The company’s competitors include Allison Transmission Holdings, Inc.; Eugen Klein GmbH; BorgWarner Inc.; Hendrickson Holdings, LLC; Cummins Inc.; Linamar Corporation; Danfoss A/S; Tirsan Kardan A.S.; Eaton Corporation plc; ZF Friedrichshafen AG; and Ege Endüstri ve Ticaret A.S.
Off-Highway: The company’s competitors include Bonfiglioli Riduttori S.p.A.; Kohler Co.; Carraro S.p.A.; SEW-Eurodrive GmbH; Comer Industries S.p.A.; Zapi S.p.A.; Danfoss A/S; ZF Friedrichshafen AG; and Kessler+Co.
Power Technologies: The company’s competitors include Denso Corporation; Mahle GmbH; ElringKlinger AG; Tenneco Inc.; Freudenberg Group; Valeo SE; Hanon Systems; and YinLun Co., LTD.
Intellectual Property
The company owns or has licensed numerous trademarks that are registered or subject to pending applications in many jurisdictions. For example, the company’s Spicer, Spicer Electrified, Victor Reinz, Long, Graziano and Dana 4 trademarks are widely recognized in their market segments. The company regards its trademarks as valuable assets and strategically pursue available protection of these rights.
Research and Development
The company’s research and development costs were $229 in 2024. Total engineering expenses including research and development were $360 in 2024.
History
The company was founded in 1904. It was incorporated in Delaware in 2009. The company was formerly known as Dana Holding Corporation and changed its name to Dana Incorporated in 2016.