The Shyft Group manufactures specialty commercial vehicles and vehicle upfits, primarily for fleet operators in last-mile delivery and infrastructure/utility trades. Shyft operates two segments: Fleet Vehicles and Services (FVS) and Specialty Vehicles (SV). FVS, the larger segment by revenue, builds purpose-built walk-in vans and truck bodies under the Utilimaster brand for parcel and e-commerce delivery fleets, as well as cargo van and pickup upfits for utility, food/beverage, and mobile retail operators. SV manufactures truck service bodies under the Royal Truck Body and DuraMag brands, vocational upfits for government and fleet customers, and custom diesel chassis for luxury Class A motorhomes under the Spartan RV Chassis brand. Shyft sells directly to large national fleet accounts and through independent truck dealers and leasing companies. Shyft is primarily a make-to-order manufacturer, so revenue is driven by unit volumes tied to fleet replacement cycles and pricing. Profitability is highly sensitive to volume given the largely non-automated assembly operations. SV generates substantially higher margins than FVS, reflecting the more specialized, less commoditized nature of its products. Shyft is also developing Blue Arc, a purpose-built Class 4 electric walk-in van that entered production in late 2024, with an initial order from FedEx. In December 2024, Shyft announced a merger with Aebi Schmidt, a Swiss specialty vehicles company, with Shyft shareholders expected to own approximately 48% of the combined company upon close.