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American Axle & Manufact. has a market cap of $1.04 billion; its shares were traded at around $14.51 with a P/E ratio of 11.7 and P/S ratio of 0.7. Hedge Fund Gurus that owns AXL: George Soros of Soros Fund Management LLC, Steven Cohen of SAC Capital Advisors. Mutual Fund and Other Gurus that owns AXL: James Barrow of Barrow, Hanley, Mewhinney & Strauss, Jeremy Grantham of GMO LLC.
Highlight of Business Operations:The closing price of the Common Stock on June 30, 2010 as reported on the New York Stock Exchange was $7.33 per share and the aggregate market value of the registrant's Common Stock held by non-affiliates was approximately $465.6 million.
We are also the principal supplier of driveline system products for Chrysler Group LLC's (Chrysler) heavy-duty Dodge Ram full-size pickup trucks (Dodge Ram program) and its derivatives. Sales to Chrysler were approximately 9% of our total net sales in 2010, 8% in 2009 and 10% in 2008. In addition to GM and Chrysler, we supply driveline systems and other related components to Volkswagen AG (Volkswagen), Scania AB, PACCAR Inc., Harley-Davidson Inc., Deere & Company, Tata Motors, Mack Trucks Inc. (Mack Truck), Ford Motor Company (Ford), and other original equipment manufacturers (OEMs) and Tier I supplier companies. Our net sales to customers other than GM were $563.0 million in 2010 as compared to $331.2 million in 2009 and $544.6 million in 2008.
In 2010, R&D spending was $82.5 million as compared to $67.0 million in 2009 and $85.0 million in 2008. The focus of this investment continues to be developing innovative driveline and drivetrain systems and related components for light trucks, passenger cars, SUVs, crossover vehicles and commercial vehicles in the global marketplace. Product development in this area includes power transfer units, transfer cases, driveline and transmission differentials, multi-piece driveshafts, constant velocity joints, torque transfer devices, chassis modules and front and rear drive axles. We continue to focus on electronic integration in our existing and future products to advance their performance. We also continue to support the development of hybrid and electric vehicle systems. Special focus is also placed on the development of products and systems that provide our customers with efficiency fuel economy and emissions reduction advancements. Our efforts in these areas have resulted in the development of prototypes and various configurations of these driveline systems for several OEMs throughout the world.
As of December 31, 2010, our new business backlog was approximately $850 million, which launches from 2011 to 2013. Approximately 70% of our new business backlog relates to RWD and AWD applications for passenger cars, crossover vehicles and driveline applications for the commercial vehicle markets. Approximately 65% of our new business backlog will be for end use markets outside of North America and approximately 90% of our new business backlog has been sourced to our non-U.S. facilities. The portion of our backlog associated with customers other than GM is approximately $480 million.
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