Navistar takes $60 million used truck charge

Trucking News
6 Jun by Vitaliy Dadalyan

Navistar takes $60 million used truck charge

OEM plans to export more of its “legacy” MaxxForce-equipped vehicles to help reduce its used truck inventory.

Truck and engine maker Navistar posted an $80 million net loss for the second quarter on revenues of $2.1 billion, with higher losses in its used truck business the main culprit

The company said in its earnings release that it took a $60 million charge in the second quarter to beef up the “reserve” for used trucks equipped with the OEM's “legacy” MaxxForce 13-liter engines –wiping out the $47 million in earnings before interest, taxes, and amortization (EBITA) it booked for the quarter.

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6 Jun by

Early buyers of Tesla’s Model 3 get two choices: color, wheel size

Early buyers of Tesla's Model 3 get two choices: color, wheel size

Buyers of Tesla Inc's (TSLA.O) upcoming Model 3 car will only get two choices in configuration, a policy that will let the company quickly ramp up production of its mass-market vehicle, Chief Executive Elon Musk told investors on Tuesday. "You just need to decide what color you want and what size wheels, at least for the initial production," Musk told shareholders at an annual meeting in Silicon Valley. Musk said the Model 3 will first be offered only with two-wheel drive.


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