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TRUCKMAKERS' NEWS WORLDWIDE
* USA - S&P Warns Navistar, Finance Arm May Get Cut To Highly Spec
New York,NY,USA -The World of Trucks Blog by Oliver Dixon -July 2, 2009: -- Standard & Poor's Ratings Services put Navistar International Corp. and its financing arm on watch for downgrade, noting a persistent weak outlook for North American commercial-vehicle demand this year and next... Heavy-duty vehicles such as buses and big trucks have seen a sales slump like their consumer-oriented brethren have. The heavy-duty business, which also includes engine manufacturing, has been offset in part by strength at its military business... But S&P noted its potential ratings cut on Navistar and Navistar Financial - both of which currently sit one notch above highly speculative territory at BB- - is also reflective of Navistar earlier this week losing out on a $1.05 billion contract for military armored vehicles... S&P said it also will assess the company's prospects for renewing the $1.4 billion bank credit facility at Navistar Financial...* Canada - Navistar, CAW Deadlocked on Ontario Plant Talks
Chatham, Ontario,CAN -Transport Topics -6 July 2009: -- The Canadian Auto Workers said it has rejected a proposal from Navistar International Corp. to keep the company’s Chatham, Ontario, heavy-duty truck plant open, while a Navistar spokesman said the plant will remain closed until a new labor agreement is reached... Navistar closed its only heavy-duty truck plant in North America outside of Mexico last week when the union contract expired and said it would reopen the factory only if a new agreement allowed it production “flexibility” and the option to run a “much smaller operation.”
* Venezuela - Chavez ready to buy Belarusian enterprises MAZ and MTZ 34
-charter97 -2 July 2009: -- Venezuela proclaimed ambitious plans to privatize big Belarusian enterprises, and MAZ (based in Minsk, Hrodna, Belarus) is high up on the list. Oil money meets robust HR policies and the result could be interesting... “Venezuela is interested in many Belarusian enterprises that have faced the crisis. We are ready to consider buying a stake in them,” Americo Diaz Nuñez, Ambassador Extraordinary and Plenipotentiary of Venezuela to Belarus, told at a press conference... According to the ambassador, “it can be radio industry enterprises, those of producing of electrical components, engines, and means of transport”...* Australia - Kenworth hands over K108 LNG prime mover to Kalari
Bayswater,VIC,AUST -Road Transport -6 July 2009: -- Kenworth will be pioneering Australian road transport’s environmentally-sustainable future with the handover an Australian built LNG fuelled prime mover to Kalari... The Kenworth K108 is the first LNG-fuelled prime mover to be built for a specific operator at Kenworth’s Bayswater production facility in Victoria... The truck will go into service hauling a 68 tonne B-Double curtainsider with Kalari... The LNG-fuelled Kenworth K108 has the potential to reduce greenhouse gas emissions by 20-25 per cent, relative to diesel engines, without sacrificing power or torque output...* Canada - Mit Fuso expands Canadian business by 50%
Logan Township,N.J.,USA -Today's Trucking (CAN) -6 July 2009: -- Taking advantage of the market void left in Canada by the exit of Sterling Trucks, Mitsubishi Fuso Truck of America, Inc. (MFTA) has signed eight new Canadian dealers to its network so far this year, and expects to add at least three more... The light and medium duty straight truck manufacturer says it is expanding its network across the country by nearly 50 percent... The company reports that sales have been accelerating for several years. “It took us just over five years to sell our first 1,000 trucks in Canada. It only took an additional 26 months to sell our second 1,000, and that pace continues to accelerate,” says Mike Rumsey, vice president of sales operations says... (Photo from ibs.net: Mitsubishi Fuso)* Germany - Equity Preview
Munich,Germany -Bloomberg -6 July 2009: -- MAN SE: Assembly lines at Europe’s third- largest truck maker are operating at 40 percent capacity, according to a report in the magazine WirtschaftsWoche citing an unidentified MAN manager. A supervisory board meeting on July 8 will discuss whether to curtail bus sales to countries known for corruption after prosecutors accused the company of paying bribes to win contracts, the news magazine said on its Web site. MAN shares dropped 1 percent to 42.21 euros.. * Japan - Toyota dumps diesel engine project with Isuzu
Tokyo,Japan -Nikkei/Reuters, by Anand Basu (Bangalore) & by Himani Sarkar -July 7, 2009: -- Toyota Motor Corp has decided to scrap plans to develop diesel engines with Isuzu Motors Ltd in what is likely to be the first of a series of restructuring measures under new management, the Nikkei business daily said... Last year, Toyota had suspended the project to develop a 1.6-litre diesel engine with truck maker Isuzu due to uncertainty over vehicle demand... The two automakers had planned to start producing the engines, to be mounted on Toyota cars in Europe, in 2012...
* Turkey - Vans and trucks rose an annual 14 percent, Distributors Say
Istanbul,Turkey -Bloomberg, by Steve Bryant -July 6, 2009: -- Sales of passenger cars in Turkey rose an annual 43 percent in June, after the government cut taxes to encourage spending, the Automobile Distributors’ Association said... Sales of passenger cars rose to 41,019 units, it said today in an e-mailed statement from Istanbul. Sales of vans and trucks rose an annual 14 percent to 20,048 units in the month, it said...
* Brazil - 2009 Vehicle Sales May Set Record, Group Says
Sao Paulo,Brazil -Bloomberg, by Flavia Bohone & Fabiola Moura -July 6, 2009: -- Brazil’s new-vehicle sales may rise to a record 3 million units after the government extended a tax reduction on auto purchases until the end of the year, the country’s carmakers association said... Sales of cars, trucks and buses last month rose 17 percent from a year earlier to a record 300,157 vehicles, while the first-half total was up 3 percent, Anfavea said... The group forecasts that vehicle production in Brazil will fall 5.2 percent to 3.05 million this year, while exports may drop 40 percent to 440,000... Output declined 8.2 percent in June to 283,875 units from 309,169 a year earlier, Anfavea said. Automakers cut production to adjust to a 45 percent plunge in exports to 30,799 vehicles for the month...
Labels: truckmakers' news worldwide
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