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Sep 3, 2014

TRUCKMAKERS NEWS * USA: Keep on Trucking?

* New York - Navistar International Corp earnings report and PCAR and CMI

NY,USA -SmallCap Network, by Peter Graham -Sep 1, 2014: -- The Q3 2014 earnings report for truck and engine maker Navistar International Corp., a potential peer of light, medium- and heavy-duty truck or engine makers PACCAR Inc., and Cummins Inc., is scheduled for before the market opens on Wednesday (September 3rd)... Aside from the Navistar International Corp. earnings report, it should be said that PACCAR Inc reported Q2 2014 earnings on July 29th (revenue rose 9% due to improving truck sales in the USA and Canada and strong aftermarket parts and financial services results worldwide) while Cummins Inc reported Q2 2014 earnings on July 28th (revenue increased 7% driven by stronger demand in on-highway markets and distributor acquisitions in North America). The last time Navistar International Corp reported earnings, it reported a smaller loss as its warranty expenses fell and its truck sales improved... Back in early June, Navistar International Corp reported that second quarter revenues were $2.7 billion, up from $2.5 billion in the second quarter of 2013 with results including $151 million in intangible asset impairment charges and a $29 million tax valuation allowance (both primarily related to declines in actual and forecasted results for the company's operations in Brazil). The net loss came in at $297 million, or $3.65 per diluted share, verses a net loss of $374 million, or $4.65 per diluted share...


* Michigan - Chrysler gaining ground on rivals

(Photo by Carlos Osorio / AP: The Jeep Cherokee Trailhawk, above, at Chrysler Group world headquarters in Auburn Hills was redesigned with an edgy look that has attracted attention and buyers)
Auburns Hill,MICH,USA -Bloomberg News/The Detroit News, by Mark Clothier and Alan Ohnsman -September 2, 2014: ... Chrysler is on an unprecedented winning streak. As Jeep benefits from consumers’ renewed attraction to SUVs, the company also has been aided by strong demand for Ram pickups and Town and Country minivans. That helped propel its U.S. sales up 12 percent last month, the largest increase of any major automaker, according to the average of eight analyst estimates compiled by Bloomberg. The companies report August sales Wednesday. That would be Chrysler’s 53rd straight month of rising sales — about 4½— after almost being given up for dead before its government-sponsored bankruptcy in 2009. The streak coincides with the leadership of Chief Executive Officer Sergio Marchionne, who ordered an overhaul of Chrysler’s lineup when he took control after its spin through Chapter 11. Now the Auburn Hills, Michigan-based automaker is preparing to officially combine with Fiat SpA, which Marchionne also heads, in October to create the world’s seventh-largest automaker. And it’s pressing its advantage with hot models and generous incentives that have it gaining ground on competitors such as Ford Motor Co. and Honda Motor Co....

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