Accuride Reports 2Q Loss on Soft Demand

Commercial vehicle component maker Accuride Corp. said it lost $36.1 million, or $1 per share, in the second quarter, compared with a profit of $3.4 million, or 10 cents, a year ago.

The “soft” market for commercial vehicle components came as a result of weakened demand for commercial vehicles, Accuride said. Class 5-8 vehicles, trailers and aftermarket channels in the U.S. all saw year-over-year losses due to the recession, the company said in a statement.

Sales fell 44.8% during the quarter to $135.2 million, Accuride said.

“Despite the depressed industry volume, Accuride has so far successfully secured over $42 million in new business wins during the year,” said President Bill Lasky.