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The Securities and Exchange Commission on Thursday charged Navistar International Corp. with misleading investors about its development of an advanced technology truck engine that could be certified to meet U.S. emission standards.
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Truck and engine manufacturer Navistar International Corp. on Tuesday surprised many analysts with its announcement that it narrowed its losses more than expected during its most recent fiscal quarter.
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International announced that the collision mitigation technology, Bendix Wingman Fusion would now be offered on its medium-duty DuraStar models. It has also added the Cummins ISL9 engine as an option for the WorkStar and DuraStar.
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"Remaining a viable competitor in this market would require significant additional investment to develop and launch a complete portfolio of trucks, and upon an updated review, we determined there was not a sufficient market opportunity to justify the investment," an official said.
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International Truck says orders are brisk so far for its new International HX Series vocational truck, announcing its largest one-time order to date.
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Pure Power Technologies has been acquired from Navistar by an investment group, allowing PPT to become an independent company.
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A mock police chase may have lent humor to Navistar’s unveiling Monday of its new International HX series of vocational trucks, but the HX represents serious business for the company.
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International's new Class 8 line is replacing the PayStar and includes four models, with long and medium hoods and two diesels.
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It's looking like a good Christmas for Navistar and FedEx. The truck and engine maker managed to cut back on its losses in its most recent fiscal quarter and likely no longer will have an SEC investigation hanging over its head. Meanwhile, FedEx saw better earnings due to record holiday business.
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Last summer, Navistar named longtime Paccar executive Jeff Sass as senior vice president of North America truck sales and marketing. We caught up with him at the American Trucking Associations Management Conference & Exhibition last month to talk about his first few months on the job and what’s in store for the future.
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