Meritor, Inc. (NYSE:MTOR) reported that it will offer new items under its product portfolio comprising different aftermarket brands with multiple price points. Introductions of these products will enable customers to choose products per their requirement, regardless of the lifecycle phase of vehicles.
Meritor’s each brand under the Aftermarket parts segment is engineering-approved and meets applicable standards for safety and robustness. Moreover, depending on price and performance, these brands are segmented into Good, Better and Best tiers.
Under the Good tier, the company offers the Mach parts brand with high-value, quality products at affordable prices whereas Better tier offers top-quality parts at more reasonable rates. The Best tier's Meritor Genuine brand delivers new vehicles and helps maintain the actual vehicular performance.
Meritor, Inc. Price and Consensus
Further, the company will expand its kingpin kits, thereby increasing its offerings under Meritor Genuine and Mach product lines.
Per management, the new brand structure will offer a broader range of products at convenient prices for customers, thus enabling them to shop the required products from a single hub and save time.
On the same day, the company also announced the introduction of Meritor-branded air springs that can be used for varied commercial vehicle applications. Manufactured with corrosion-resistant components, these air springs will reduce the maintenance cost of vehicles.
Further, this new air springs portfolio will provide increased protection from shocks and vibrations, offering smoother and less-bouncy rides to passengers in the process.
Additionally, Meritor will offer a year-long, 100,000-mile warranty coverage for these air springs.
The company regularly introduces products. It has plans to unveil 20 such items over the next three years with a primary objective to grow revenues by 20% above the market, cumulatively, and increase earnings per share by $1.25.
Some major companies in the auto space are Volkswagen (DE:VOWG_p) AG (OTC:VLKAY) , Allison Transmission Holdings, Inc. (NYSE:ALSN) and BMW AG BAMXF.
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Volkswagen AG (VLKAY): Free Stock Analysis Report
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