"Diesel engine shipments to other manufacturers continue at record levels," said John Horne, Navistar chairman and chief financial officer, "and our joint venture with Maxion International Motores will enable us to increase production by 100 engines per day beginning in March to meet demand."
Horne added that Navistar foresees an industry-wide slowdown in North American orders for heavy-duty trucks in 2000. He noted, "Our other core businesses are doing well and are likely to moderate the impact of the heavy truck cycle on our performance."
He also said Navistar's financial goals for 2000 remain unchanged.
First quarter worldwide shipments of medium and heavy-duty trucks in fiscal 2000 increased by about nine per cent to 32,600 units from 29,900 units shipped in the first quarter of 1999. Navistar said shipments of diesel engines to other manufacturers also continued at a strong pace, rising by 23% to 71,600 units from 58,100 units in the first three months of the previous year.