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Meritor sales hit by pandemic - but early control measures offer stability

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By Jim Gibbins - 1st December 2020

USA – Heavy-duty axle and drive systems supplier, Meritor Inc of Troy, Michigan, has reported revenues of USD3.0bn for fiscal year ending September 30, 2020, down USD1.3bn or approximately 31 per cent on the previous fiscal year of USD4.388bn. Net income at Meritor for the period was stated as USD245m (FY2019: USD291m), while net income from continuing operations was USD244m (USD290m).

Meritor said the decrease in sales revenue was driven by lower market volumes primarily due to decreased customer demand, due to the COVID-19 pandemic, as well as higher restructuring costs related to actions taken in fiscal year 2020.

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