The latest update is out from Commercial Vehicle Group ( (CVGI) ).
CVG reported a challenging third quarter in 2024, with revenues dropping by 15.3% to $171.8 million due to global demand softening. Despite facing operational inefficiencies and a net loss of $0.9 million, the company secured new business wins totaling $18 million. CVG is undertaking significant strategic actions, including divesting non-strategic assets and restructuring, to enhance efficiency and drive future growth. While market conditions remain tough, CVG is focused on operational excellence to improve profitability and position itself for long-term success.
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