Dana Launches Drivetrains For Commercial Vehicle Aftermarket

Dana Incorporated (NYSE:DAN) has launched drivetrain products under the new line, Spicer Select, to cater to the customers of the North American commercial vehicle aftermarket. The new portfolio features Dana-engineered and tested drivetrain products for used vehicles.

The new portfolio, Spicer Select is accessible through commercial vehicle aftermarket channels. The products under the new portfolio will come in purple packaging and the brand personality will help those products to stand out in outlets.

Per management, the new line offers products that will enable its customers to maximize the lifespan of their aging vehicles. The portfolio includes high-demand replacement parts, focused to offer Dana’s aftermarket requirements.

Dana Incorporated Price and Consensus

Moreover, Dana is planning to launch light-vehicle applications within the Spicer Select portfolio, by the beginning of 2019. The line will include u-joints, center bearings and yokes, similar to the components offered for commercial vehicles.

Dana is a leading supplier of traditional and electrified light-vehicle driveline technologies, which includes passenger cars, crossovers, SUVs, vans and light trucks. Also, the company provides drivetrain systems for medium and heavy-duty commercial vehicles, and off-highway customers in construction, agriculture, material-handling and underground mining markets.

Price Performance

In the past three months, Dana’s stock has moved down 15.7%, underperforming 4.6% increase of the industry it belongs to.

Zacks Rank & Stocks to Consider

Currently, Dana has a Zacks Rank #3 (Hold). A few better-ranked stocks in the auto space are Magna International Inc. (NYSE:MGA) , Ferrari N.V. (NYSE:RACE) and Toyota Motor Corporation (NYSE:TM) . Magna and Ferrari carry a Zacks Rank #2 (Buy) while Toyota sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Magna has an expected long-term growth rate of 8.5%. Shares of the company have risen 50.7% over the past year.

Ferrari has an expected long-term growth rate of 17.3%. Shares of the company have risen 69.7% over the past year.

Toyota has an expected long-term growth rate of 5.6%. Shares of the company have risen 29.2% over the past year.

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