American Axle Announces New Business Backlog
American Axle & Manufacturing Holdings (AAM) announced that its backlog of new and incremental business launching from 2014 through 2016 is estimated at $900 million in future annual sales. This estimate is attributed to several factors, including:
- Product programs supporting new and existing Jeep and Cadillac models
- Progress on customer diversification initiatives (new orders from Chrysler Group, Daimler Truck, Ford, Honda, Nissan and others)
- Major increase in passenger car and crossover vehicle business (approximately two-thirds of backlog)
- Global market growth (approximately 70% of backlog is for programs sourced outside the U.S.)
AAM values its new and incremental business backlog based on production volume estimates and program design direction provided by its customers. The actual sales value of these awards will depend on product volumes, program launch timing and foreign currency exchange.