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TRUCKMAKERS' NEWS * WORLDWIDE
* USA - Navistar Finishes Field Tests On 2010 Engines After 18 Months
Warrenville,ILL,USA -Transport Topics, by Frederick Kiel -20 July 2009: -- Navistar Inc. said it has completed 18 months of laboratory and field tests of its “advanced” version of exhaust gas recirculation engine technology that will be used to meet 2010 federal emission requirements... Navistar, the only truck maker that will meet the 2010 rules with EGR, said the tests included “cold-weather testing in northern Minnesota”... Company spokesman Roy Wiley, told, he could not say when Navistar planned to submit the engine for certification to the U.S. Environmental Protection Agency... Navistar said the next phase of “final validation testing” will take place “at high altitude and high temperature”...* Sweden - Volvo losses deepen in Q2, stands by market outlook
Stockholm,Sweden -Reuters, by Niklas Pollard & Victoria Klesty -Jul 21, 2009: -- World number two truck maker Volvo posted a deeper than expected second-quarter loss on Tuesday and stood by its forecast that the economic downturn would see its main markets shrivel this year... But the drain of cash from the group slowed considerably in the quarter compared with the previous three months while the Swedish vehicles maker said it had managed to cut inventories further as it adjusted to the plunging demand...
* Sweden - Little let-up seen for truck makers
Stockholm,Sweden -Reuters, by Victoria Klesty -July 20, 2009: -- Sweden's heavy-duty truck makers were seen posting another batch of weak quarterly results this week with demand for commercial vehicles in their key European market yet to shows signs of recovery... With lots filling up with unsold trucks and burdened with an ailing construction equipment unit, Sweden's Volvo is likely to yet again be hit hardest among Europe's top players, according to Reuters polls... Volvo is seen posting a pretax loss -- its third quarterly loss in a row -- of 5.62 billion Swedish crowns ($721.4 million) including restructuring costs that analysts expect will come in at 979 million crowns... Scania, with a smaller base of fixed costs, has so far fared less badly than its larger Swedish rival and analysts expect it to have remained profitable in the second quarter with pretax earnings of 273 million crowns, down 94 percent year-on-year... Scania's truck sales are seen down 42 percent year-on-year in the second quarter...
* USA - Volvo Completes First 2010 Truck
Dublin,VA,USA -Transport Topics -20 July 2009: -- Volvo Trucks North America said Monday that its first 2010-compliant truck has been driven off the assembly line... The truck, a VN670, uses Volvo’s selective catalytic reduction system to comply with the U.S. Environmental Protection Agency’s emissions standards that take effect in 2010, VTNA said in a statement... The new truck was assembled at Volvo’s New River Valley plant in Dublin, Va., and rolled off the line July 2... Main production on 2010 model trucks will begin in the fall, Volvo said...* China - Beijing Auto eyes Daimler van partnership - source
Shanghai,China -Reuters -Jul 21, 2009: -- Beijing Automotive Industry Holding Corp is in talks with Fujian Motor Industry Group to replace it as the local partner in a commercial vehicle tie-up with Daimler AG in southeast China, a source said on Tuesday... Beijing Auto, which already makes Mercedes-Benz cars in partnership with Daimler in China, wants to take the 50 percent stake held by Fujian Motor in its van manufacturing venture with the German automaker, said a source, briefed on the matter...* Italy - Fiat to edge back to profit in Q2, debt still weighs
Milan,Italy -Reuters, by Jo Winterbottom & Massimo Gaia -Jul 17, 2009: -- Italian automaker Fiat is forecast to have returned to profit in the second quarter when car sales benefited from tax breaks, but analysts looking under the bonnet say trucks and tractors are still troubled... Chief executive Sergio Marchionne has said this year will be the toughest he has faced but is still predicting a trading profit of more than 1 billion euros ($1.4 billion) and debt being cut below 5 billion euros... Analysts at Cheuvreux expect Fiat to be the only mass-market carmaker in profit in the first half of 2009...
* USA - Caterpillar’s Profit Drops; Boosts ’09 Forecast
Peoria,ILL,USA -Transport Topics -21 July 2009: -- Heavy equipment and diesel engine maker Caterpillar Inc. said Tuesday its second-quarter profit fell by two-thirds, but boosted its full-year earnings forecast... Caterpillar earned $371 million, or 60 cents per share, down from $1.1 billion, or $1.74, a year ago. Sales fell 41% to $7.98 billion, while engine sales fell 32%... The boosted its 2009 outlook, predicting sales to be $32 billion to $36 billion, with a profit of 40 cents to $1.50 per share, including redundancy costs of about $700 million, or 75 cents per share... (Photo from downloadmunkey: Cat2 view of the other trucks...)
Labels: truckmakers news worldwide
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