Navistar marketshare rises, losses hit $247 million
For the third quarter 2013, Navistar’s truck segment reported a loss of $58 million, compared with a $26 million loss for the same period a year ago. The segment also saw lower net sales of $1.92 billion – a 15 percent decrease year-over-year.
The engine segment reported a loss of $86 million, compared to a $47 million loss in third quarter 2012. Net sales were 14 percent lower year-over-year at $723 million.
Total revenue in the quarter was $2.9 billion, down 12 percent from the third quarter of 2012, reflecting lower net sales across all classes of Navistar’s core truck business, due to the impact of the company’s SCR emissions transition for both heavy- and medium-duty vehicles and a nine percent drop in overall industry demand in North America during the quarter.
In an effort to boost its medium-duty business, Navistar announced Tuesday plans to offer the Cummins ISB engine in its International DuraStar medium-duty trucks and IC Bus CE Series school buses effective immediately.