General Motors, Navistar deal ends
Sep 1, 2008 12:00 PM
General Motors and Navistar International have broken off their deal in which GM was to sell its medium-duty truck business to Navistar.
“Due to significant marketplace and economic changes, GM and Navistar have decided not to renew the memorandum of understanding to purchase GM's medium-duty truck business, which has expired,” said GM officials. “GM will continue to run the medium-duty business as it has in the past, including providing sales, service, and marketing support to GM dealers for its medium-duty trucks.
“GM will continue to review strategic options for the business, including continued discussions with Navistar.”
In summer 2007, GM sold its Allison Transmission operation to an investor group.
