Winnie Dong: Hi, thank you so much. The EV topic has been touched upon several times already, but I was just wondering how much of the EV backlog is actually for light vehicles? And are you hearing any of your customers talking about a slowdown potentially because we’re being hearing that from sort of like the broader market? And then can you also maybe dimension for us what you’re seeing in terms of other markets given the diversification factor?
James Kamsickas: Good morning. Just an overview, I’d say — and maybe, Tim, you have a few words to add as well to you. I would just say this, the overall slowdown in the programs in terms of the timing, volumes and so on and so forth. Largely speaking, they’re where we thought they would be at this point, maybe a little bit of pullback on pushout, nothing too dramatic. You got to remember, again, it’s — we’re not a Light Vehicle company. And I know you know that alone. We’re in a bus market. Obviously, there’s a lot of large pull for zero admissions and school bus markets and much more there. So not a big pullback. And as it relates to the other markets, if it’s going to be slower and let’s now use Light Vehicle as an example, and call it, the truck business.
If they’re not manufacturing electric trucks. They’re going to be manufacturing internal combustion engine trucks, and that’s good for our business as well. So we just — we’re very — I said it from the very beginning, when we talked about our enterprise strategy in 2016 and then in 2018 as well. We set up the company to be energy-source agnostic. We’re ready, but no matter what it is, and we just were able to flex on the fly to whichever that maybe. Tim, I don’t know if you have anything to add.
Timothy Kraus: Yes, just on your specific question on LV in the backlog, it’s pretty minor in terms of what’s actually in the backlog for the Light Vehicle EV. Mostly because our EV, as we’ve mentioned, is really the last of our segments, our major segments to electrify Commercial vehicle was the first. So — the programs we have run, they tend to have a longer run rate in development, and so they tend to fall outside of the current LV backlog or the current 3-year backlog.
Winnie Dong: Okay. That’s really helpful. And then maybe asked another way, just because what we’re thinking about sort of like 2024, from a modeling standpoint, do you think like Q3 or like yearly Q3 is a better way to sort of as a good base to start thinking about 2024, If there’s any sort of seasonality factors we need to consider? Thanks.
Timothy Kraus: Yes. I mean is obviously seasonality. We talked a little bit about how fourth quarter tends to be a little lower. So our second and third quarters tend to be our best quarters historically. I think that continues — but as I mentioned earlier, we’ll give an update on 2024 in February, and we can have a discussion about them, but I don’t have anything specific on modeling for 2024 at this point.
Winnie Dong: Okay, thank you so much.
James Kamsickas: Okay. With that, this is Jim. Just a quick couple of closing comments as I always do, thank you very much for your time and attention. We appreciate it very, very much. Second, the tale of the tape is, from my view, anyway, is steady sequential financial progress really across all of our business units. There’s a little bit of seasonality as it relates to off-highway more European-based, and Q3 can be can be a little bit slower and some things can happen there in Q3. But again, great numbers and great progress across all the business units for sure, rolling up to where we’re at today. Outstanding once performance, it could be easily underestimated because there’s not everybody is in the day-to-day business like maybe how others are — what does it take to launch 120 programs across 1 company.
When it go from — you got to win the program, you got to finance the program, you’ve got to launch the program, you got to ensure great quality. That’s remarkable, and there’s no impact. You can see it. The scoreboard doesn’t lie. No splash in the financials of any massive premium freight, massive labor, massive this, mass of that instead, nothing but improvement there. So I really want to thank the entire Dana team as well as our customers. As we work through these challenges together, major launches, yes, — but think about the UAW impact us, it’s like COVID all over again, and it’s sort of seamless. I mean obviously, it’s going to have some impact on everyone’s financials as it relates to Q4 numbers but as it relates to running the business and ensuring that the end consumer gets great products, we’re in great shape together.
So thank you very much again for your time and attention. We look forward to talking to you next year.
Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.
