Navistar International Corporation

Navistar takeover intrigue rises with TRATON leadership shakeup

Navistar and TRATON CEOs

If German truck holding company TRATON Group (ETR: 8TRA) completes its unsolicited bid to buy Navistar International Corp. (NYSE: NAV), new leaders will run the combined company with TRATON CEO Andreas Renschler departing.

TRATON announced on Tuesday, July 8, that takeover architect Rentschler is departing and handing the CEO role to Matthias Gründler, the former chief financial officer of the Munich-based truck holding company of Volkswagen AG. 

Navistar named Persio Lisboa to succeed Troy...

https://www.freightwaves.com/news/navistar-takeover-intrigue-rises-with-traton-leadership-shakeup

Navistar goes virtual for Texas plant groundbreaking

NAvistar plant 3D rendering

With Texas under a renewed shelter-in-place order because of a surge in coronavirus infections, Navistar International Corp. (NYSE: NAV) broke ground virtually for a $250 million assembly plant in San Antonio.

The expected 600 new jobs “fuel Texas’ COVID-19 recovery by providing great job opportunities to our diverse and highly skilled manufacturing workforce,” said Gov. Greg Abbott, who on Thursday halted business reopenings in Texas.

The Manufacturing 4.0 plant draws lessons from TRATON Group,...

https://www.freightwaves.com/news/navistar-goes-virtual-for-texas-plant-groundbreaking

Breaking News: Navistar names Lisboa next CEO

Persio Lisboa

Navistar International Corp. (NYSE: NAV) named Persio Lisboa on Friday as its next CEO and president effective July 1.

Lisboa, 54, currently executive vice president and chief operating officer, succeeds Troy Clarke, who will remain at Navistar in the newly created role of Executive Chairman.

Navistar had extended Clarke’s term as CEO three times, in part because of an unsolicited takeover offer by TRATON Group, the German truck holding company of Volkswagen AG. TRATON made a $2.9 billion bid on...

https://s29755.pcdn.co/news/breaking-news-navistar-names-lisboa-next-ceo

Daimler Trucks data mining finds miles driven is rising

Freightliner Cascadia on highway

Freightliner trucks could be driving pre-COVID-19 pandemic miles by the end of June, its parent Daimler Trucks North America (DTNA) said Friday.

The gradual reopening of the economy is increasing the amount of freight being hauled, leading to more odometer clicks. 

Anonymized data collected from 130,000 telematics-enabled Freightliner Cascadias in North America showed a 15% drop in miles driven at the end of April. Mileage increased every week in May and is projected to return to pre-crisis...

https://s29755.pcdn.co/news/daimler-trucks-data-mining-finds-miles-driven-is-rising

What does Navistar loss portend for other truck manufacturers?

International construction truck

Navistar International Corp.’s second-quarter fiscal loss from COVID-19-disrupted production in April points to worse numbers for truck manufacturers that will report pandemic-addled results for the April-June quarter.

For Navistar (NYSE: NAV), things likely will get worse in its third quarter, which covers May-July. Its second-quarter report on Thursday, June 4, pointed to the difficulties that manufacturers and suppliers will unpack when they report their second quarter results in July.

None of...

https://s29755.pcdn.co/news/what-does-navistar-loss-portend-for-other-truck-manufacturers?

Navistar logs Q2 loss from COVID-19 impact on truck production

International LT at fueling

Navistar International Corp. (NYSE: NAV) reported a $38 million loss in its fiscal second quarter because of production suspensions and supply chain issues related to the COVID-19 pandemic.

The loss was narrower than the $48 million in red ink reported a year ago when the truck maker took a $159 million charge to settle complaints over defective engines in trucks built in the previous decade.

The loss, which amounted to 38 cents per diluted share, was three cents less than a consensus of...

https://www.freightwaves.com/news/navistar-logs-q2-loss-from-covid-19-impact-on-truck-production

Truck makers push parts online and speed service

Daimler Truck Technician

In trucking, where uptime can be the difference between making or losing money, major truck manufacturers are rolling out digital tools to speed parts ordering, using an app to audibly guide repairs and even arranging to transport trucks needing service.

The one-day repair is a focus of all manufacturers who also are increasingly using over-the-air updates to reprogram sophisticated computer systems without the truck coming to a service center.

24-hour turnaround

Daimler Trucks North America...

https://s29755.pcdn.co/news/truck-makers-push-parts-online-and-speed-service

Autopsy of a recall: Navistar engine issue gets special attention

International LT

Navistar International Corp. (NYSE: NAV) is recalling more than 4,900 late-model Class 8 International LT and RH tractors because defective connecting rods could cause engine failure, stranding a driver in traffic.

The company knows of three instances in which a driver was stuck in a lane of traffic and dozens in which the driver managed to ease the truck to the side of the road. An engine knocking noise, rough idle or an engine warning light can alert a driver to an imminent engine shutdown.

No...

https://s29755.pcdn.co/news/autopsy-of-a-recall-navistar-engine-issue-gets-special-attention

Traton urges European government-sponsored swapping of older trucks

Aerial of Traton Group trucks

Traton Group, (CXE: 8TRA) the holding company for Volkswagen AG’s truck and bus businesses, urged a European “cash for clunkers” program to boost new truck purchases after reporting lower sales, earnings and orders in the first quarter on Monday.

“What Europe needs right now are investment incentives for the environmentally friendly modernization of truck fleets as a means to overcome the crisis in this system-critical sector,” said Andreas Renschler, Traton CEO and member of the VW Board of...

https://s29755.pcdn.co/news/traton-urges-european-government-sponsored-swapping-of-older-trucks

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