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Dana supplies the components that transfer power to a vehicle’s wheels and help manage electricity, heat and sealing. These include axles and driveshafts, as well as motors and power electronics for hybrid and electric vehicles. Most revenue comes from light vehicles, particularly trucks and SUVs; medium- and heavy-duty trucks and buses make up the other main business. Vehicle manufacturers buy its parts for production, while manufacturers and aftermarket customers also buy service parts.
Ford is Dana’s largest customer, and Stellantis is another major source of sales, including through a directed supply relationship. The business depends heavily on how many vehicles these and other large customers build. Dana often wins supply programs before a vehicle launches and supplies them over the program’s life, but those awards do not guarantee purchase volumes: customers place individual orders as needed. Most major customer agreements share significant commodity-price changes, though price adjustments lag changes in Dana’s costs.
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Every company claims an edge. Each one is checked against hard numbers like margins and returns: which hold, and which line gives way first.
Dana’s results hinge on major customers’ truck and SUV production, so also watch Volkswagen and its Traton subsidiary—the fourth-largest customer group in 2025, absent from this list.
Ford Motor Company buys Dana’s vehicle components and accounted for 32% of its 2025 sales, making Ford’s production decisions especially important to Dana. Watch production plans rather than just retail sales of Ford’s combustion and hybrid vehicles.
Dauch Corporation competes directly with Dana for automakers’ purchases of axles and other systems that transmit power to the wheels. Its axle and all-wheel-drive business puts that rivalry across combustion, hybrid and electric vehicles.
Stellantis buys Dana components directly and through suppliers it directs to use Dana, together accounting for 13% of Dana’s 2025 sales. Its North American vehicle production, including Jeep SUVs and Ram vehicles, is worth watching for Dana’s light-vehicle demand.
BorgWarner competes with Dana for vehicle manufacturers’ spending on drivetrain, electrification and cooling products. Its Drivetrain & Morse Systems and PowerDrive Systems sales are more relevant to that rivalry than its total revenue.
Magna International’s powertrain business competes with Dana for light-vehicle manufacturers’ supply programs, but Magna also sells many unrelated vehicle systems. Focus on powertrain developments within Power & Vision rather than treating Magna’s seating or complete-vehicle revenue as a measure of competition with Dana.
Allison Transmission competes with Dana to supply commercial-vehicle propulsion systems and acquired Dana’s Off-Highway business effective January 1, 2026. Its automatic transmissions for medium- and heavy-duty vehicles remain the competitive overlap to watch, distinct from the business Dana sold.
PACCAR was Dana’s fifth-largest customer in 2025, so its commercial-truck production schedules feed into Dana’s component sales. Watch its Truck business rather than aftermarket Parts or financing revenue.
Toyota Motor Corporation was Dana’s third-largest customer in 2025, making its vehicle programs an important source of component demand. Toyota’s vehicle production is the relevant signal for Dana, rather than its financial-services revenue.
Lear and Dana both rely on automakers’ production volumes: Lear sells seats and electrical systems, while Dana sells vehicle components such as axles and driveshafts. Lear’s Seating and E-Systems sales offer another view of manufacturers’ demand for parts.
Adient shares Dana’s exposure to pickup and SUV production: automakers buy seats from Adient and driveline components from Dana for those vehicle categories. Watch Adient’s pickup and SUV seating demand for a read on this part of Dana’s market.
Cooper Standard and Dana both depend on automakers’ production and purchasing decisions, though Cooper Standard sells sealing and fluid-handling systems while Dana supplies driveline and power technologies. Watch demand for Cooper Standard’s passenger-vehicle and light-truck products as another view of those customers’ parts spending.
Autoliv and Dana both depend on automotive production, with manufacturers buying airbags and seatbelts from Autoliv and driveline and power products from Dana. Autoliv offers a view of light-vehicle demand, but Dana is more weighted toward trucks and SUVs than passenger cars.
Paccar Inc earningsPCAR
PACCAR’s Truck business will show how commercial-truck production is changing, a direct signal for demand for the axles and driveshafts Dana sells to PACCAR.
Focus on production or deliveries in PACCAR’s Truck business, not its Parts or financing revenue. Stable or rising truck output would support demand for Dana’s commercial-vehicle components; a decline would point to pressure on this customer demand and Dana’s commercial-vehicle sales.
Durable Goods Orders MoM (Sep)
Dana sells axles, drivelines and other production parts to vehicle makers, so orders for long-lasting goods—especially motor vehicles—can signal whether OEMs will buy more or fewer of its parts.
Expected0.2%Last release-0.1%
If it comes in above expectations
If the reading is above the 0.2% estimate, it is above the previous -0.1%. Stronger-than-expected orders, particularly for motor vehicles, may lead OEMs to schedule more production and buy more Dana parts, supporting sales; the effect depends on customers’ actual releases and purchase orders.
If it comes in below expectations
Weaker-than-expected orders, particularly for motor vehicles, may lead OEMs to cut production and buy fewer Dana parts, weighing on sales; the effect depends on customers’ actual releases and purchase orders.
Dana Incorporated earningsThis company
Dana sells parts to automakers through its Light Vehicle and Commercial Vehicle businesses, and this report will show whether both can protect margins as sales change.
Read Light Vehicle and Commercial Vehicle sales alongside each segment’s EBITDA margin, the share of sales left as earnings before interest, taxes, depreciation and amortization. Stable sales with margins holding up would show Dana is earning more from its existing business; falling sales and margins would show that improvement is vulnerable to weaker production or pricing pressure.
Industrial Production MoM (Oct)
Dana sells axles, drivelines and other production parts to light-, medium- and heavy-duty vehicle makers, so factory output—especially motor-vehicle production—can affect how many parts those OEMs buy.
If industrial output rises, especially motor-vehicle production, that points to potential support for OEM demand for Dana parts; if output falls, it points to potential pressure on that demand. Customer releases and purchase orders determine actual purchases.
