Commercial Vehicle Group Announces Restructuring, Cost Reduction Plans
Commercial Vehicle Group announced a new president and CEO and other cost-cutting and restructuring actions.
Commercial Vehicle Group Inc., New Albany, Ohio, announced restructuring and cost reduction actions, including management changes, that are expected to lower operating costs by $8 million to $12 million annually.
These actions will begin before the end of the year and reflect improvements to manufacturing footprint and capacity utilization. Patrick E. Miller was appointed president and CEO, following the resignation of Richard P. Lavin, effective November 20. Miller will also replace Lavin on the Board of Directors.
Lavin, a Caterpillar veteran, was brought aboard as CEO in May 2013, to replace outgoing CEO Mervin Dunn, and later that year another "executive realignment" was announced.
Miller, who most recently was president of the Company's Global Truck & Bus Division, has been with Commercial Vehicle Group since 2005.
Earlier this month, the company announced weaker than expected quarterly earnings of $0.10 EPS, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.04.
"These restructuring and cost reduction actions reflect, in part, the challenging conditions in our global construction and agriculture end markets, but are also the result of the ongoing evaluation of our manufacturing footprint and capacity utilization," Miller said. "We are committed to a renewed focus on cost management and margin protection in the near term, as we work to enhance our competitive position, top line growth, and earnings over the longer term.
"We know the impact of these decisions will be difficult for our employees and the communities affected by closures. We do not make these decisions lightly," added Miller.
More Equipment

How Volvo Updated Its D13 for EPA 2027 [Watch]
Volvo’s updated D13 promises lower emissions without sacrificing performance or fuel economy. Take a closer look at what changed inside the engine in this HDT Spotlight video.
Read More →
Michelin Tire Improves Efficiency and Durability for Regional Fleets
The Michelin X Multi Energy D2 is a regional haul drive tire engineered to help fleets improve fuel efficiency, durability and traction in demanding stop-and-go operations.
Read More →
ZF Expands Commercial Vehicle Push in North America
ZF is expanding its North American commercial-vehicle presence with new transmission applications, electrification, trailer technology and autonomous-driving systems.
Read More →
Tesla Wants a Self-Driving Semi. Are Cameras Enough?
Could Tesla’s camera-only autonomous driving technology work on an 80,000-pound Semi? In this commentary, HDT's Deborah Lockridge takes a look at Tesla, Cybercab, and how autonomous trucks see the road.
Read More →
Kodiak: Driverless Long-Haul Truck Launch on Track for 2026
Kodiak AI says its driverless long-haul safety case is 93% complete and it remains on track to begin commercial operations by year-end 2026.
Read More →
What DOT’s Automated Vehicle Strategy Means for Trucking
The U.S. Department of Transportation issued a new automated-vehicle strategy that outlines plans for driverless-truck regulations, cross-state freight corridors, and federal safety standards.
Read More →
East Coast Port Launches $45M Electric Truck Push
The Port Authority of New York and New Jersey announced millions in incentives for zero-emission drayage trucks, yard tractors, and new charging hubs near the port.
Read More →
PlusAI Going Public to Fund Autonomous Truck Launch
A SPAC deal could provide PlusAI with up to $300 million as it works toward a 2027 commercial launch of factory-built autonomous trucks.
Read More →
NHTSA Moves to Rewrite Truck Fuel-Economy Rules
The National Highway Traffic Safety Administration says it lacks authority to regulate medium- and heavy-duty truck engines separately from complete vehicles, but the existing standards have not yet been eliminated.
Read More →
Detroit Opens Orders for EPA 2027 Engines
Detroit isn’t starting from scratch to meet EPA 2027 diesel emissions standards. Its Gen 6 DD13 and DD15 engines keep much of today’s platform while updating the fuel and aftertreatment systems.
Read More →
