Despite the pressures on the truck market due to fuel prices and rough economic news, Navistar recently announced increased market share for their traditional truck business.
According to Navistar…
“Midway through 2008, a much weaker year for the industry than even 2007, we are truly realizing the benefits of our growth strategy,” said Daniel C. Ustian, Navistar chairman, president and chief executive officer.
“With recent billion-dollar-plus orders in our bus and defense businesses and considerable order receipt increases in our core truck markets, we expect to achieve record revenue in 2008. And, even more importantly, deliver nearly $1 billion in manufacturing segment profit,” said Ustian.
The company also detailed second quarter 2008 worldwide shipments of Class 6-7 medium trucks and Class 8 heavy trucks, school buses and expansion market vehicles of 27,200 – a 41 percent increase over the first quarter. Navistar U.S. and Canada dealer stock inventories reached a five-year low, while both year-to-date market share and order receipt share increased an average of 4 percentage points across all vehicle lines versus the same period of 2007.