There’s been no further news around a possible take-over of Navistar by Volkswagen, it seems though that it’s business as usual at the heavy vehicle manufacturer.
Navistar International has reported a 16% increase in revenue across the second quarter of 2018.
The parent company of International Truck and IC Bus announced a second quarter 2018 net income of $55 million USD, a vast improvement on the $80 million USD loss reported in the same period last year.
It’s also a much better performance than the groups first quarter 2018 results.
Driving the improved revenues in the most recent quarter was an increase in sales of Class 6-8 (medium-duty/heavy-duty) trucks and buses in the U.S. and Canada.
“We had a great second quarter, delivering stronger than expected results by taking advantage of the robust market conditions,” – Troy A. Clarke, Navistar chairman, president and CEO
“The market continues to respond favourably to our new products, especially our LT Series on highway tractor and the 13-litre A26 engine, which helped us capture two points of year-over-year share growth in the Class 8 segment.”
Helping to increase the truck sales volumes was the arrival of the new International MV Series medium-duty truck range, details on that new offering here.
The Navistar report also showing the business ended the quarter with $1.14 billion USD in consolidated cash and securities.
While Navistar revenues this year are expected to be up to $10.25 billion USD.
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