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Nexteer Reports 2024 Year End Results

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Achieves Above Market Revenue Growth, Expands Diversification, Continues APAC Momentum

AUBURN HILLS, Mich., March 19, 2025 /PRNewswire/ — Nexteer Automotive (HK 1316) today reported year end results for the period ended December 31, 2024, including record revenue of US$4.3 billion, an increase of 1.6% compared to 2023. Adjusting for foreign currency and commodity recoveries, Nexteer’s revenue increased by 2.5%, outperforming the market by 360 basis points.

“Nexteer’s strong Bookings over the past several years converted into revenue of $4.3 billion for 2024, our second, consecutive year achieving revenue above $4 billion and growing above market levels,” said Robin Milavec, President, Chief Technology Officer (CTO), Chief Strategy Officer (CSO) and Executive Board Director, Nexteer Automotive. “We also secured significant Bookings throughout 2024 totaling $6 billion and expanded diversification across our customers, markets and products. Our Bookings also prove continued growth momentum alongside Chinese OEMs with 28% of our Bookings coming from this segment, which is an impressive 38% increase from the prior year.” 

Bookings Highlights: Diversification & Continued Chinese OEM Momentum
During this period, Nexteer’s above market revenue growth was driven by strong conquest wins of new customer business over several years, as well as continued momentum with leading Chinese OEMs (COEMs). Nexteer achieved $6.0 billion in Bookings, of which 31% represented new conquest business and 28% represented COEM business. The company noted key Bookings positioning Nexteer to capitalize on future, additional growth opportunities, including:

First Dual Pinion Electric Power Steering (DPEPS) win in APAC with two leading COEMsFirst Steer-by-Wire (SbW) booking with a leading COEM First Rear Wheel Steering – a form of SbW – with a leading COEMFirst SbW booking for a highly automated mobility-as-a-service application with a global EV leaderNext Generation Bookings: Incumbent Driveline (DL) business extension and a Rack-assist Electric Power Steering (REPS) for a full-size truck platform

77 Launches – Sets Record & Expands Diversification  
In 2024, Nexteer successfully launched 77 customer programs – surpassing the company record in 2023 – 68 represented new or conquest business and 45 represented EV platforms. The composition across Nexteer’s product lines, customers, regions and vehicle segments reflects a growing diversity. For example, 52 launches were in APAC supporting both COEMs and global OEMs. This success is a result of Nexteer’s strategic plan to capitalize on growth opportunities within the region and globally as COEMs expand into new markets.

Nexteer’s launch composition also reflects many firsts, including a first Rack-Assist Electric Power Steering (REPS) launch with a Japanese OEM, first Dual-Pinion EPS (DPEPS) launch in EMEASA, first major adjacent market launch for Single-Pinion (SPEPS) in NA, plus multiple first REPS launches with COEMs.

Full Year 2024 Financial Results
Nexteer achieved record full-year revenue of US$4.3 billion increasing by 1.6% when compared with 2023.  Adjusting for unfavorable foreign currency translation and a decrease in commodity recoveries, the company’s revenue increased by 2.5%, outperforming the market by 360 basis points. Continued growth in APAC led with revenue growth above market by 11.3% driven by growth with COEMs. 

Net Profit Attributable to Equity Holders of $61.7 million increased by 68.0% compared to 2023. Adjusted EBITDA of $424.4 million, increased $77.8 million or 22.5% compared to 2023. Nexteer’s free cash flow was strong with an inflow of $166.4 million which was an increase of $61.4 million compared to 2023 driven by the increase in earnings.

“Our Nexteer team navigated 2024’s challenging environment with a determined focus on strengthening our business and profitability fundamentals. While we made significant progress in 2024, we remain committed to continuing and accelerating this progress while executing our strategy for profitable growth that delivers above market revenue, improves margins and drives innovation,” added Milavec.

FORWARD-LOOKING STATEMENTS
Any forward-looking statements and opinions contained within this press release are based on current plans, estimates and projections, and therefore involve risks and uncertainties. Actual results may differ materially from expectations discussed in such forward-looking statements and opinions. Nexteer Automotive and its directors and employees assume (a) no obligation to correct or update the forward-looking statements or opinions contained in this press release; and (b) no liability in the event that any of the forward-looking statements or opinions do not materialize or turn out to be incorrect.

ABOUT NEXTEER AUTOMOTIVE
Nexteer Automotive (HK 1316) is a global leading motion control technology company accelerating mobility to be safe, green and exciting. Our innovative product and technology portfolio includes electric and hydraulic power steering systems, steer-by-wire systems, steering columns and intermediate shafts, driveline systems and software solutions. The company solves motion control challenges across all megatrends – including electrification, software/connectivity, ADAS/automated driving and shared mobility – for more than 60 customers around the world including BMW, Ford, GM, RNM, Stellantis, Toyota and VW, as well as automakers in India and China including BYD, Chery, Great Wall, Geely, Xpeng and others. www.nexteer.com

Link to Nexteer Media Center 

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Parliamentary Secretary Rochefort to participate in a milestone event

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HUNTSVILLE, ON, Nov. 6, 2026 /CNW/ — Pauline Rochefort, Parliamentary Secretary to the Secretary of State for Rural Development, on behalf of the Minister of Energy and Natural Resources, the Honourable Tim Hodgson, will take part in a forestry milestone event. Media availability will follow.  

Date: Monday, November 9, 2026

Time: 9 a.m. ET

All accredited media are asked to pre-register by emailing media@nrcan-rncan.gc.ca. Details on how to participate will be provided upon registration.

Follow Natural Resources Canada on LinkedIn

SOURCE Natural Resources Canada

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IDP Introduces Agent-Native System of Action, Unifying Humans and AI Agents in One Enterprise Workspace

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Powered by proprietary Universal Agent Protocol™ (UAP), IDP unifies AI agent development, reasoning, orchestration, customer intelligence and enterprise execution. Tim Dahle and Red Rock Auto Group report 2X the appointment conversion rate of traditional BDC operations.

CAPE CORAL, Fla., Nov. 6, 2026 /PRNewswire/ — IDP (ID Privacy AI), an agentic AI technology company, today introduced its Agent-Native System of Action, a unified enterprise platform that enables human employees and AI agents to share customer intelligence, coordinate workflows and execute business tasks across existing enterprise systems.

Powered by its proprietary Universal Agent Protocol™ (UAP), IDP combines AI agent development, intelligent reasoning, multi-agent orchestration, persistent customer intelligence and enterprise execution in one operating environment. 

Through MyIDP.app, employees and AI agents collaborate within a shared workspace while existing CRM, DMS, scheduling and communication platforms remain in place.

To learn more about IDP, its platform and solutions, visit https://www.tryidp.com. 

The announcement is supported by customer-reported results from Tim Dahle and Red Rock Auto Group, where Josh Worthington, Vice President of Operations, reports a 12% appointment conversion rate compared with approximately 6% through traditional BDC operations, representing twice the reported conversion rate.

“The difference with IDP has been incredible,” said Worthington. That’s double the conversion rate, and we’re accomplishing it with technology designed to actually execute the work.”

Solving Decades of Enterprise Fragmentation

“For decades, automotive software has been fragmented, leaving dealerships with disconnected data and workflows,” says Albert Thompson, Founder and CEO of IDP. “Adding standalone AI agents to this broken infrastructure only compounds the chaos. Instead of more disjointed tools, IDP’s Agent-Native System of Action connects existing investments through a universal execution layer.”

From AI Conversations to Completed Business Outcomes

For automotive retailers, the difference between conversational AI and operational execution is particularly visible in service scheduling.

An AI agent may successfully answer a customer’s call, but completing the request requires access to customer records, dealership policies, scheduling availability and operational systems.

When those systems remain disconnected, employees must manually complete or verify the work.

“Automotive AI providers often fail to connect customer conversations with execution,” Worthington noted. “Our previous platform couldn’t schedule appointments or generate tasks, forcing employees to manually review every interaction. Instead of eliminating work, it just created another system for them to babysit.”

IDP’s approach prioritizes completed business outcomes, including confirmed appointments, coordinated follow-up, exception handling and operational visibility.

Systems of record preserve business information. IDP’s System of Action coordinates the work.

Dealer Leadership Perspective: The Future of Automotive AI

As automotive retailers evaluate AI adoption, dealer leadership is increasingly focused on technologies that connect existing investments, support employees and deliver measurable operational value.

Paul Sansone Jr., Founder, Sansone Jr Auto Group 

“My advice to operators is simple: the train is already moving, and it’s moving fast. I really believe the dealerships that figure out how to combine great people with great technology are going to have a significant competitive advantage over the next several years.”

The Technology Behind IDP’s Agent-Native System of Action

IDP’s platform combines five complementary capabilities designed to support the lifecycle of enterprise AI agents, from development and deployment through reasoning, orchestration, execution and human collaboration.

Agent Studio: AI Agent Development and Management. IDP’s Agent Studio enables businesses to configure, deploy and manage AI agents across voice, SMS, email and web channels. Reusable agent configurations support business-specific workflows, operating policies and escalation requirements.Intelligent Reasoning and Multi-Agent Orchestration. IDP’s reasoning and orchestration capabilities are designed to interpret customer intent, apply shared context, coordinate multi-step workflows and delegate supported actions between agents and employees. Business rules and human oversight help govern execution.Universal Agent Protocol™ (UAP): Enterprise Execution. UAP is IDP’s proprietary business-action abstraction, orchestration and execution framework. It is designed to translate business objectives into authorized actions across supported CRM, DMS, scheduling and enterprise applications. Unlike connectivity protocols that primarily expose tools to AI applications, UAP addresses the additional requirements of coordinating business workflows, applying permissions, managing exceptions and verifying outcomes.Context Graph: Unified Customer Intelligence. IDP’s Context Graph connects available customer identity, vehicle relationships, website signals, communication history and operational events across supported systems. By combining existing records with available real-time signals, it creates a continuously enriched customer context that employees and agents can use throughout sales, service and ownership lifecycle interactions.MyIDP.app: The Human-Agent Enterprise Workspace. MyIDP.app provides a shared working environment where employees and AI agents can review conversations, coordinate tasks, guide agent behavior and manage exceptions. Employees can direct supported agent workflows and customer engagement while maintaining visibility into operational activity, using: Teach to provide guidance to agentsTell to direct supported actionsBlasts for configured customer outreach

“The future isn’t humans versus AI,” Thompson said. “It’s humans and AI working as one team. Employees should be able to teach agents, delegate work, understand what’s happening and step in when their judgment matters.”

Built in Automotive. Designed for Enterprise.

IDP’s technology has supported more than 130,000 booked automotive appointments, providing operating experience across customer engagement, scheduling and dealership workflows.The company has developed its platform within an automotive ecosystem that includes dealership groups, enterprise software integrations and OEM certification programs involving Nissan, INFINITI and Mitsubishi.IDP’s architecture is designed to support both its own AI agents and compatible third-party agent technologies, creating opportunities for enterprises and software partners to use shared intelligence and execution capabilities without replacing existing systems of record.The company is exploring applications beyond automotive, including retail, hospitality and home services, where fragmented software, customer engagement and workforce coordination present similar challenges.

Automotive retail provides a demanding proving ground for agent-native execution, with customer interactions spanning multiple systems, departments and communication channels.

“Automotive is where we’re building and proving this model, but the problem exists in almost every industry,” Thompson said. “The next major shift in enterprise software isn’t another CRM, another dashboard or another AI assistant. It’s a System of Action where humans and AI agents share the intelligence, authority and infrastructure to actually get things done.”

To learn more about IDP and the System of Action, visit https://tryidp.com. You can see the system in action, listen to sample calls, and work with an IDP AI agent to schedule a demo.

About IDP

IDP (ID Privacy AI) is an agentic AI technology company developing an Agent-Native System of Action for automotive retail and enterprise operations.

Its platform combines AI agent development, intelligent reasoning, multi-agent orchestration, proprietary Universal Agent Protocol™ (UAP), persistent customer intelligence through Context Graph, and human-agent collaboration through MyIDP.app.

IDP connects AI-powered voice, SMS, email and web engagement with existing enterprise systems and supported business workflows.

Headquartered in Cape Coral, Florida, IDP is advancing an operating model in which humans and AI agents share intelligence, coordinate actions and complete measurable business work.

Website: https://tryidp.com 

Media Contact:
Albert Thompson
Founder & CEO, IDP
albert@idprivacy.ai
443-370-9143

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SOURCE ID Privacy, Inc.

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Used Truck and Trailer Inventory Down in October as Semi-Trailer Auction Values Jump Nearly 20%

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LINCOLN, Neb., Nov. 6, 2026 /PRNewswire/ — The newest Sandhills Global market reports, which cover October data for used trucks and equipment on TruckPaper.com, TractorHouse.com, MachineryTrader.com, and other Sandhills platforms, underscore inventory declines across most market segments. Inventory dropped lower than year-ago levels in every market except for aerial lifts and forklifts. Year-over-year inventory decreases were sharpest among used heavy-duty trucks, semi-trailers, and medium-duty trucks.

“Although inventory remains low, prices are solid,” says Truck Paper manager Scott Lubischer. “There is higher demand for lower-mileage units, which are performing well compared to higher-mileage trucks. On the trailer front, demand is picking up and trailer inventory is getting some much-needed attention.” Auction values for used semi-trailers were up 3.18% month-over-month and 19.64% Y/Y in October, led by used dry van and refrigerated trailers.

Used aerial lifts and forklifts showed the opposite pattern. Compared to year-ago figures, inventory levels in these markets were up and values were down. In the used farm equipment market, inventory levels for high-horsepower tractors were down 12% from the previous year, continuing a 17-month downward trend despite a slight monthly increase.

The key metric in all of Sandhills’ market reports is the Sandhills Equipment Value Index (EVI). Buyers and sellers can use the information in the Sandhills EVI to monitor equipment markets and maximize returns on acquisition, liquidation, and related business decisions. The Sandhills EVI data include equipment available in auction and retail markets and model-year equipment actively in use. EVI spread measures the percentage difference between asking and auction values.

Market Report Details
Sandhills market reports highlight the most significant changes in Sandhills’ used heavy-duty truck, semi-trailer, farm machinery, and construction equipment markets. Key points from the current reports are listed below. Full reports are available upon request.

U.S. Used Heavy-Duty Trucks

Inventory levels of used day cab and sleeper trucks decreased 0.83% M/M and 37.25% Y/Y in October and are trending down for the 11th consecutive month. Used day cab trucks had the largest M/M inventory change, down 8.39%, while used sleeper trucks had the largest Y/Y decline of 39.22%.Asking values dipped 0.24% M/M but increased 2.12% Y/Y and are trending up. Used sleeper trucks had the largest asking value changes, down 1.16% M/M and up 2.28% Y/Y.Auction values slipped 0.16% M/M but rose 6.09% Y/Y and are trending sideways. Used day cab trucks had the largest M/M auction value increase at 1.46%, while used sleeper trucks posted the largest Y/Y gain of 6.72%.

U.S. Used Semi-Trailers

Inventory levels of used semi-trailers decreased 3.85% M/M and 33.92% Y/Y in October and are trending down for the 15th consecutive month. Used dry van trailers had the largest M/M inventory decrease at 9.16%, while used reefer trailers experienced the steepest Y/Y decline of 45.05%.Asking values rose 1.46% M/M and 9.46% Y/Y and are trending up. Used reefer trailers had the largest asking value increases, climbing 2.86% M/M and 17.04% Y/Y.Auction values increased 3.18% M/M and jumped 19.64% Y/Y and are trending up. Used dry van trailers had the largest M/M auction value gain of 10.94%, while used reefer trailers posted the strongest Y/Y increase at 29.44%.

U.S. Used Medium-Duty Trucks

Inventory levels of used medium-duty trucks dipped 0.19% M/M and dropped 29.42% Y/Y in October and are trending down for the 14th month in a row.Asking values increased marginally by 0.2% M/M but decreased 3.52% Y/Y, continuing a six-month-long downward trend.Auction values declined 1.57% M/M and 4.81% Y/Y and are also trending down for the sixth consecutive month.

U.S. Used Tractors 100 Horsepower and Greater

Inventory levels in the used high-HP tractor market increased 1.38% M/M in October but decreased 12.28% Y/Y and are trending down for the 17th month in a row. Used 100- to 174-HP tractors had the largest inventory changes, up 5.23% M/M and down 12.88% Y/Y.Asking values edged up 0.15% M/M and increased 1.07% Y/Y and are trending sideways. Used 100- to 174-HP tractors had the largest M/M asking value increase at 0.31%, while used 175- to 299-HP tractors posted the strongest Y/Y gain of 3.57%.Auction values dipped 0.81% M/M but rose 4.43% Y/Y and are trending sideways. Used tractors with 300 HP and greater had the largest M/M auction value change, down 1.38%, while used 175- to 299-HP tractors had the largest Y/Y increase at 6.7%.The EVI spread, which measures the percentage difference between asking and auction values, was 32% in October, a one-percentage-point increase from September.

U.S. Used Combines

Used combine harvester inventory levels dropped 6.11% M/M and 9.67% Y/Y in October and are trending down.Asking values increased slightly, rising 0.21% M/M, but decreased 2.68% Y/Y and are trending down.Auction values increased 1.23% M/M but fell 0.88% Y/Y and are trending down for the fifth consecutive month.The EVI spread was 36%, a two-percentage-point decrease from September.

U.S. Used Sprayers

Inventory levels of used sprayers increased 4.72% M/M in October, declined 12.93% Y/Y, and are trending sideways.Asking values rose 1.85% M/M, fell 3.14% Y/Y, and are trending sideways.Auction values increased 1.64% M/M but decreased 2.24% Y/Y and are trending sideways.The EVI spread was 37%, unchanged from September.

U.S. Used Planters

Used planter inventory levels increased 1.42% M/M in October, decreased 14.04% Y/Y, and are trending up.Asking values dipped marginally by 0.05% M/M but climbed 6.79% Y/Y and are trending sideways.Auction values decreased 0.92% M/M but jumped 15.41% Y/Y and are trending sideways.The EVI spread was 45%, a one-percentage-point increase from September.

U.S. Used Self-Propelled Forage Harvesters

Inventory levels in this market increased marginally by 0.83% M/M in October but decreased 5.43% Y/Y and are trending sideways.Asking values declined 1.38% M/M and 1.15% Y/Y and are trending down.Auction values decreased 1.72% M/M and 1.11% Y/Y and are trending down.

U.S. Used Compact and Utility Tractors

Inventory levels in this market increased 6.04% M/M in October but fell 17.32% Y/Y and are trending sideways. Used tractors with less than 40 HP had the largest inventory changes, up 6.82% M/M and down 18.29% Y/Y.Asking values dipped marginally by 0.06% M/M but increased 1.82% Y/Y and are trending sideways. Used tractors with less than 40 HP had the largest M/M asking value change, down 0.3%, while used 40- to 99-HP tractors had the largest Y/Y increase at 1.88%.Auction values were nearly unchanged M/M, decreasing 0.01%, but increased 1.23% Y/Y and are trending down. Used tractors with less than 40 HP had the largest auction value changes, down 0.61% M/M and up 1.23% Y/Y.

U.S. Used Heavy-Duty Construction Equipment

Inventory levels in this market increased 0.73% M/M but decreased 9.62% Y/Y in October and are trending down. Used crawler dozers had the largest M/M inventory change, up 1.55%, while used wheel loaders posted the largest Y/Y decline of 12.27%.Asking values decreased 0.95% M/M and 3.64% Y/Y and are trending down for the sixth consecutive month. Used crawler excavators had the largest asking value changes, down 2.62% M/M and 6.29% Y/Y.Auction values fell 2.04% M/M and 4.95% Y/Y and are trending down for the fifth month in a row. Used crawler excavators posted the largest auction value decreases, dropping 4.05% M/M and 6.31% Y/Y.

U.S. Used Medium-Duty Construction Equipment

Inventory levels of used medium-duty construction equipment increased 3.04% M/M but decreased 10.23% Y/Y in October and are trending sideways. Used mini excavators had the largest M/M inventory increase at 5.65%, while used loader backhoes posted the steepest Y/Y decline of 23.18%.Asking values fell 0.56% M/M and 1.18% Y/Y and are trending down. Used loader backhoes had the largest M/M asking value decrease at 1.01%, while used mini excavators had the largest Y/Y decline of 3.17%.Auction values decreased 1.16% M/M and 1.09% Y/Y and are trending down. Used mini excavators had the largest auction value changes, down 2.89% M/M and 3.58% Y/Y.

U.S. Used Aerial Lifts

Inventory levels of used aerial lifts increased 6.59% M/M and 4.12% Y/Y in October and are trending up. Used slab scissor lifts had the largest M/M inventory increase at 7.33%, while used articulating boom lifts posted the strongest Y/Y gain of 13.7%.Asking values decreased 2.33% M/M and 2.76% Y/Y and have been trending down for five months. Used rough-terrain scissor lifts had the largest M/M asking value decline at 3%, while used telescopic boom lifts had the largest Y/Y decrease of 4.29%.Auction values dipped 0.22% M/M and fell 3.6% Y/Y and are trending down for the sixth consecutive month. Used articulating boom lifts had the largest auction value decreases, down 0.93% M/M and 4.45% Y/Y.

U.S. Used Forklifts

Used forklift inventory levels decreased 2.79% M/M but climbed 11.41% Y/Y in October and are trending up for the sixth consecutive month. Used cushion-tire forklifts had the largest inventory changes, down 4.46% M/M and up 14.06% Y/Y.Asking values declined 1.97% M/M and 4.33% Y/Y and are trending down. Used cushion-tire forklifts posted the largest asking value decreases, falling 2.21% M/M and 7.19% Y/Y.Auction values decreased 1.34% M/M and 5.95% Y/Y and are trending down. Used cushion-tire forklifts had the largest auction value declines, dropping 3.11% M/M and 15.16% Y/Y.

U.S. Used Telehandlers

Inventory levels of U.S. used telehandlers increased 0.91% M/M but decreased 3.95% Y/Y. Used telehandler inventory levels are currently trending up.Asking values declined 1.39% M/M and 8% Y/Y and are trending down for the fifth consecutive month.Auction values decreased 0.39% M/M and 5.88% Y/Y and have been trending down for five months.

Obtain the Full Reports
For more information or to receive detailed analysis from Sandhills Global, contact us at marketreports@sandhills.com.

About Sandhills Global
Sandhills Global is an information processing company headquartered in Lincoln, Nebraska. Our products and services gather, process, and distribute information through trade publications, websites, and online services that connect buyers and sellers across the construction, agriculture, forestry, oil and gas, heavy equipment, commercial trucking, and aviation industries. Our integrated, industry-specific approach to hosted technologies and services offers solutions that help businesses large and small operate efficiently and grow securely, cost-effectively, and successfully. Sandhills Global—we are the cloud.

About the Sandhills Equipment Value Index
The Sandhills Equipment Value Index (EVI) is a principal gauge of the estimated market values of used assets—both currently and over time—across the construction, agricultural, and commercial trucking industries represented by Sandhills Global platforms, including AuctionTime.com, TractorHouse.com, MachineryTrader.com, TruckPaper.com, and other industry-specific equipment platforms. Powered by Value Insight Portal (VIP+), Sandhills’ proprietary asset valuation tool, Sandhills EVI provides useful insights into the ever-changing supply-and-demand conditions for each industry.

Contact Sandhills
www.sandhills.com/contact-us
402-479-2181

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