Commercial Vehicle Group, Inc. (‘CVG’), together with its subsidiaries, provides systems, assemblies and components to the global commercial vehicle market and the electric vehicle markets.
The company has manufacturing operations in the United States, Mexico, China, the United Kingdom, Czech Republic, Ukraine, Morocco, Thailand, India, and Australia. The company’s products are primarily sold in North America, Europe, and the Asia-Pacific region.
The company primarily manufactures customized p...
Commercial Vehicle Group, Inc. (‘CVG’), together with its subsidiaries, provides systems, assemblies and components to the global commercial vehicle market and the electric vehicle markets.
The company has manufacturing operations in the United States, Mexico, China, the United Kingdom, Czech Republic, Ukraine, Morocco, Thailand, India, and Australia. The company’s products are primarily sold in North America, Europe, and the Asia-Pacific region.
The company primarily manufactures customized products to meet the requirements of its customers. The company’s products are used by a majority of the North American commercial truck manufacturers, many construction and agriculture vehicle original equipment manufacturers (‘OEMs’), parts and service dealers, and distributors.
Segments
CVG has three reportable segments for 2024: Vehicle Solutions, Electrical Systems, and Aftermarket & Accessories.
The company’s segments offer various products, which are sold into many end-user markets, such as internal combustion commercial vehicles, electric vehicles, construction and agriculture equipment, power sports, and military. Certain of the company’s facilities manufacture and sell products through multiple business segments.
The Vehicle Solutions segment designs, manufactures, and sells the following products:
Commercial vehicle seats for the global commercial vehicle markets, including heavy-duty trucks, medium-duty trucks, last-mile delivery trucks, and vans, construction and agriculture equipment in North America, Europe, and Asia-Pacific. This segment includes a portion of the company’s activities in the electric vehicle market.
Plastic & trim components primarily for the North American commercial vehicle market, medium-duty/heavy-duty (‘MD/HD’) truck market, and power sports markets.
The Electrical Systems segment designs, manufactures, and sells the following products:
Cable and harness assemblies for both high and low voltage applications, control boxes, dashboard assemblies, and design and engineering for these applications.
The end markets for these products are construction, agricultural, industrial, automotive (both internal combustion and electric vehicles), truck, mining, rail, marine, power generation, and the military/defense industries in North America, Europe, and Asia-Pacific.
The Aftermarket & Accessories segment designs, manufactures, and sells the following products:
Seats and components sold into the commercial vehicle channels that provide repair and refurbishing. These channels include Original Equipment Service (‘OES’) centers and retail distributors, and are spread across North America, Europe, and Asia-Pacific.
Commercial vehicle accessories, including wipers, mirrors, and sensors. These products are sold both as original equipment and as repair products.
Office seats primarily sold into the commercial and home office furniture distribution channels in Europe and Asia-Pacific.
Vehicle Solutions Segment Products
Seats and seating systems: The company designs, engineers, and produces seats for MD/HD trucks, buses, construction, agriculture, and military markets. The company’s seats are primarily sold fully assembled and ready for installation. The company offers a wide range of seats that include mechanical and air suspension seats, static seats, bus seats, and military seats. The company’s seats are designed to achieve a high level of operator comfort by adding a wide range of manual and power features, such as lumbar support, cushion and back bolsters, and leg and thigh support. The company’s seats are built to meet customer requirements in low volumes and are produced in numerous feature combinations to form a full-range product line with a wide range of price points.
The company’s seats are sold under multiple brands, including KAB Seating, National Seating, Bostrom Seating, and Stratos.
Plastic assemblies and components: The company designs, engineers, and produces plastic components and assemblies for MD/HD, power sports vehicles, specialty vehicle applications, and diversified markets. The company offers thermoformed products, injection molded products, reaction injection molded products (RIM), and decorated/hydrographic finished products. The company also assembles components and fabrics to these formed plastic parts and delivers complete subassemblies in bulk and in sequence. The company’s principal products in this category include:
Molded products: The company’s molded products include both large and small parts. Specific components include vinyl or cloth-covered appliqués, ranging from a traditional cut-and-sew approach to a contemporary molded styling theme, armrests, map pocket compartments, and sound-reducing insulation.
Instrument panels: The company produces and assembles instrument panels that can be integrated with the rest of the interior trim. The instrument panel is a complex system of coverings and foam, plastic, and metal parts designed to house various components and act as a safety device for the vehicle occupant.
Plastics decorating and finishing: The company offers customers a wide variety of cost-effective finishes in paint, ultraviolet, hard coating, and customized industrial hydrographic films (simulated appearance of wood grain, carbon fiber, brushed metal, marbles, camouflage, and custom patterns), and other interior and exterior finishes.
Cab interiors: The company designs, manufactures, and provides a variety of interior design products, including armrests, grab handles, storage systems, floor coverings, floor mats, sleeper bunks, headliners, wall panels, and privacy curtains that can be part of the overall cab structure or standalone assemblies, depending on the customer application.
The company’s plastic products are sold under the AdvancTEK brand name.
Electrical Systems Segment Products
Wire harness assemblies: The company designs, engineers, and produces a wide range of high and low voltage electrical wire systems for vehicles and subsystems, which include Ethernet, battery cables, and power distribution boxes. The company’s electrical wire harness assemblies function as the primary electric current carrying devices used to provide electrical interconnections for gauges, lights, control functions, power circuits, powertrain and transmission sensors, emissions systems, and other electronic applications on commercial and other vehicles. The company’s wire harnesses are customized to fit specific end-user requirements and can be complex. The company’s production capabilities include low and high volume serial production with low and high volume circuitry, RIM (reaction injection molding), and specialized testing. The company’s engineering and production capabilities include virtual wiring boards, automatic plug insertion stations, system architecture, schematic development, and prototyping.
The company’s electrical systems segment products are sold into the construction, agriculture, industrial, and electric vehicles, traditional automotive, mining, rail, marine, power generation, and the military/defense industries in North America, Europe, and Asia-Pacific.
Aftermarket & Accessories Segment Products
The company designs, manufactures, and provides a variety of seats, mirrors, wipers, and wiper systems sold into the commercial MD/HD truck, military, and specialty power sports vehicles, electric vehicle, office, and home office markets. These products are sold under various brands, including Bostrom, National Seating, Moto Mirror, KAB Seating (for both vehicles and office markets), Sprague Devices, and RoadWatch.
The company’s aftermarket products are primarily sold through the Original Equipment Service (OES) sales channel and direct into the retail aftermarket as replacements for original equipment in North America, Europe, and Asia Pacific.
Primary Industries Served
Commercial vehicle market: Commercial vehicles are used in a wide variety of end markets, including local and long-haul commercial trucking, bus, construction, mining, agricultural, military, industrial, municipal, off-road recreational, and specialty vehicle markets. The commercial vehicle supply industry can generally be separated into two categories: sales to OEMs, in which products are sold in relatively large quantities directly for use by OEMs in new commercial and construction vehicles; and aftermarket sales, in which products are sold as replacements to a wide range of original equipment service organizations, wholesalers, retailers, and installers. Additionally, the company is seeing a trend toward alternate fuel and electric vehicles, middle-mile, and last-mile vehicle models.
North American commercial truck market: Purchasers of commercial trucks include fleet operators, owner-operators, governmental agencies, and industrial end users. Commercial vehicles used for local and long-haul commercial trucking are generally classified by gross vehicle weight. Class 8 vehicles are trucks with gross vehicle weight in excess of 33,000 lbs., and Classes 5 through 7 vehicles are trucks with gross vehicle weight from 16,001 lbs. to 33,000 lbs.
Commercial truck aftermarket: Demand for aftermarket products is driven by the quality of OEM parts, the number of vehicles in operation, the average age of the vehicle fleet, the content and value per vehicle, vehicle usage, and the average useful life of vehicle parts. CVG has a widely recognized brand portfolio and participates in most retail sales channels, including original equipment dealer networks and independent distributors.
Construction and agriculture equipment market: The company primarily supplies OEMs with its wire harness and seating products. The company’s construction and agriculture equipment products are primarily used in the medium and heavy construction and agriculture equipment market. The platforms that the company generally participates in include cranes, pavers, planers and profilers, dozers, loaders, graders, haulers, tractors, excavators, backhoes, material handling, and compactors.
Purchasers of medium and heavy construction and agriculture equipment include construction companies, municipalities, local governments, rental fleet owners, quarrying and mining companies, and forestry-related industries. Purchasers of light construction and agriculture equipment include contractors, rental fleet owners, landscapers, logistics companies, and farmers.
Military equipment market: The company supplies products for heavy- and medium-payload tactical vehicles and complex military communications equipment over multiple product lines that are used by various defense customers. Military equipment production is particularly sensitive to political and governmental budgetary considerations.
Customer Contracts, and Sales and Marketing
The company’s sales and marketing efforts are designed to create customer awareness of its engineering, design, and manufacturing capabilities. The company’s sales and marketing staff work closely with its design and engineering personnel to prepare the materials used for bidding on new business, as well as to provide an interface between the company and its key customers. The company has sales and marketing personnel located in every major region in which it operates. From time to time, the company participates in industry trade shows and advertises in industry publications.
Research and Development
The company’s research and development costs for the year ended December 31, 2024, totaled $8.3 million.
Intellectual Property
The company’s major brands include CVG, Sprague Devices, Moto Mirror, RoadWatch, KAB Seating, National Seating, Bostrom Seating, Stratos, and AdvancTEK. The company owns the U.S. federal trademark registrations for several of its product brands.
Environmental
Several of the company’s facilities are either certified as, or are in the process of being certified as ISO 9001, 14000, 14001, or TS16949 (the international environmental management standard) compliant, or are developing similar environmental management systems.
History
Commercial Vehicle Group, Inc., a Delaware corporation, was founded in 2000. The company was incorporated in 2000.
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