Meritor Acquisition and 2022 Financial Results
Table of Contents
Engine Segment
Engine segment sales and EBITDA as a percentage of consolidated results were:
Percent of consolidated net sales(¹)
Percent of consolidated EBITDA (1)
(1) Measured before intersegment eliminations
2022
31%
38%
Years ended December 31,
2021
2020
33 %
39 %
32%
41 %
The Engine segment manufactures and markets a broad range of diesel and natural gas-powered engines under the Cummins brand name, as well as certain customer brand
names, for the heavy and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive, construction, mining, marine, rail, oil and gas, defense and agricultural
markets. We manufacture a wide variety of engine products including:
.
Engines with a displacement range of 2.8 to 15 liters and horsepower ranging from 48 to 715 and
New parts and service, as well as remanufactured parts and engines, primarily through our extensive distribution network.
The Engine segment is organized by engine displacement size and serves these end-user markets:
•
•
Heavy-duty truck - We manufacture diesel and natural gas engines that range from 310 to 615 horsepower serving global heavy-duty truck customers worldwide,
primarily in North America, China and Australia.
Medium-duty truck and bus -We manufacture diesel and natural gas engines ranging from 130 to 450 horsepower serving medium-duty truck and bus customers
worldwide, with key markets including North America, Europe, Latin America, China, Australia and India. Applications include pick-up, delivery, emergency vehicles,
regional haul and vocational trucks and school, transit and shuttle buses. We also provide diesel engines for Class A motor homes (RVS), primarily in North America.
Light-duty automotive (Pick-up and Light Commercial Vehicle (LCV)) -We manufacture 105 to 400 horsepower diesel engines, including engines for the pick-up
truck market for Stellantis N.V. (Stellantis) in North America and LCV markets in Latin America and China.
Off-highway-We manufacture diesel engines that range from 48 to 715 horsepower serving key global markets including construction, mining, marine, rail, oil and
gas, defense and agriculture and also the power generation business for standby, mobile and distributed power generation solutions throughout the world.
The principal customers of our heavy-duty truck engines include truck manufacturers such as PACCAR Inc. (PACCAR), Traton Group (Traton, formerly Navistar International
Corporation) and Daimler Trucks North America (Daimler). The principal customers of our medium-duty truck engines include truck manufacturers such as Daimler, Traton
and PACCAR. The principal customers of our light-duty on-highway engines are Anhui Jianghuai Automobile Group Co., Ltd., Volkswagen Caminhões e Ônibus and China
National Heavy Duty Truck Group. The principal customer of our pick-up on-highway engines is Stellantis. We sell our industrial engines to manufacturers of construction and
agricultural equipment including Hyundai Heavy Industries, Xuzhou Construction Machinery Group, Komatsu, John Deere, JLG Industries, Inc. and Guangxi LiuGong
Machinery Co., Ltd.
In the Engine segment, our competitors vary from country to country, with local manufacturers generally predominant in each geography. Other independent engine
manufacturers include Weichai Power Co. Ltd. and Deutz AG. Truck OEMs may also elect to produce their own engines, and we must provide competitive products to win and
keep their business. Truck OEMs that currently produce some or all of their own engines include Daimler, PACCAR, Traton, Volvo Powertrain, Ford Motor Company, China
First Auto Works, Dongfeng Motor Corporation, CNH Industrial and Isuzu.
6View entire presentation