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Sep 10, 2016

NAVISTAR's news * USA: Third quarter loss widens

* Illinois - Navistar’s third quarter big truck sales sag

--- Navistar International Corp. said third-quarter revenues and earnings both declined year-over-year amid soft truck demand and the continued expense of warranty work from a problem with the company’s diesel engines... The Lisle, Ill. truck maker reported a net-loss of $34 million, up 21 percent from $28 million in the same period a year earlier... Revenues in the quarter reflecti lower year-over-year sales of trucks in the heaviest Class 8 weight segment, the company said Thursday. Sales of such trucks, which make up the largest portion of the market, plunged 42 percent in the quarter... Navistar and rival manufacturers are suffering through weak demand for large trucks as the industry works through a backlog of new and used vehicles, said Bill Kozek, who directs Navistar’s North American Trucks and Parts business... Soft freight demand is contributing to the slow sales. Shippers don’t need as many trucks... 
(Photo: Navistar - A Navistar employee assembles a WorkStar at the company’s Springfield, Ohio truck plant) -- Lisle, Ill, USA - Trucks.com, by Tony Dreibus- Sept 8, 2016

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