Navistar North American market share remains little changed in past year
Jan 1, 2002 12:00 PM
Navistar International Corp, based in Warrenville IL, reports that the company's 2001 market share of 26.3% in the United States and Canada changed little from 2000. Navistar is the parent company of International Truck and Engine Corp.
“The truck market in North America remains weak and this trend is expected to continue for at least another 12 months,” said John R Horne, Navistar chairman, president, and chief executive officer. “Pricing on new and used trucks remains soft and will remain a challenge for the industry.”
Navistar's worldwide shipments in 2001 totaled 43,700 medium trucks — primarily Class 6-7 — and 25,100 heavy trucks, Class 8 GVW. Shipments in 2000 consisted of 56,500 medium and 45,000 heavy trucks, according to Navistar.
The company is forecasting US and Canadian total truck industry retail sales volume in fiscal 2002 at 294,500 units, down 6% from the 312,700 units sold in the 12 months ended Oct 31, 2001. Demand for heavy trucks is expected to reach 154,000 units, while demand for medium trucks is estimated at 112,500 units, of which 87,500 are Class 6-7. According to Navistar, industry inventories have been reduced by about 33,500 units this year. Industry production should increase to 294,500 units in 2002 from 279,200 units if retail industry conditions do not get worse, the company forecasts.
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