Meritor, Inc.MTOR recently announced the launch of next generation 79000 single-reduction drive axle for transit buses with a lifespan that is three times more than previous offerings. The latest offering will be available to original equipment manufacturers (OEMs) early next year.
The automotive parts manufacturer and supplier also announced the launch of ProTec Series 50 range of beam axles for military use. The ProTec Series 50 beam axles are expected to be available in the fall of 2018.
The Troy, MI-based automotive parts manufacturer and supplier's new 79000 axle, which replaces the 71000 axles, has been devised in such a way that municipal transit fleets meet the guidelines of federal and industry durability. The 79000 axle has been designed for the North America transit bus duty cycle and for higher product durability.
On the other hand, ProTec Series 50 has been designed to meet the demanding military specifications. The performance and dependability factors have also been taken into consideration. The optimized beam axles share a number of common features with existing Meritor products. By utilizing proven technologies, Meritor has lowered lead times for quicker deliveries. The axles meet the elevated technology readiness levels of the Department of Defense.
In the last six months, Meritor's shares have outperformed the industry it belongs to. The company's shares have increased 56.3% compared with the industry gain of 28.2%.
Currently, Meritor sports a Zacks Rank #1 (Strong Buy).
A few other top-ranked stocks in the auto space are Toyota Motor Corporation TM , Cummins Inc. CMI and Daimler AG DDAIF . Toyota sports a Zacks Rank #1, while Cummins and Daimler carry a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here .
Toyota has an expected long-term earnings growth rate of 7%.
Cummins has an expected long-term earnings growth rate of 12%.
Daimler has an expected long-term earnings growth rate of 2.8%.
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