The bumper truck sales experienced in North America in 2018 has helped the bottom line of almost everyone in the industry.
Navistar, parent company of International Trucks, as well as school bus giant – IC Bus, and manufacturer of Navistar Defence Vehicles and Navistar engines, has reported a solid lift in income this year.
Navistar International announced its fourth quarter 2018 financial results showing a $74 million AUD jump in net income in the quarter.
The U.S. business banking more than $261 million AUD in the three-month period.
For the whole fiscal year, Navistar reported a net income of $472 million AUD, up from just $42 million AUD in fiscal year 2017.
“2018 was a very strong year for the industry, and a breakout year for Navistar,” said Troy Clarke, chairman, president and CEO.
“We were the only truck OEM to grow Class 8 share during the year. With the industry’s newest product line-up, superior quality, and a strong focus on customer uptime, we expect to gain market share in 2019 for the third year in a row.”
While Navistar upped its prediction for total unit sales in 2019 to be an expected 425,000 units.
“While we expect 2019 to be another strong year for Navistar and the industry, it’s important to recognize that Navistar as an investment is much more than just a cycle play,”
“As our ongoing improvements demonstrate, the company also has strong opportunities to benefit by recapturing market share, growing parts revenue, improving margins, generating free cash flow and further de-risking the balance sheet.”
International Truck sales in Australia, although still comparatively small, no doubt contributed to the healthy financials.
To the end of November, 54 new International Trucks were sold in Australia, up from just 6 in the same period last year.
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