Navistar included only one full month of impact from the COVID-19 pandemic in its loss-making second quarter. How bad will it be for manufacturers who report on a traditional April-June quarter?
One manufacturer’s decision to erase 10,000 Class 8 trucks from its build plan threw the industry into negative territory in April; experts expect scant improvement in May.
Class 8 orders in April plummeted to their lowest level since September 1995 as the COVID-19 pandemic froze new bookings and led to postponing near-term deliveries.
Revenue and profits look bleak for second quarter, but leading engine maker Cummins surprised analysts with better-than-expected first-quarter revenue and profits.
Navistar makes $300 million in across-the-board cuts to conserve cash but will repay employees with interest for their 10% to 30% pay reductions next March.
Major truck manufacturers extend production suspensions as the coronavirus pandemic worsens. J.P. Morgan upgrades PACCAR and holds a neutral rating on Navistar.
Truck component supplier Meritor idles plants and cuts base salaries up to 50% to save the ship from rough seas.
Supply chain disruption from coronavirus adds Navistar plant in Ohio to truck operations suspending production and pulling earnings guidance.
Engine maker Cummins Inc. joined Volvo and Mack Trucks in suspending production because of the coronavirus pandemic . Cummins and trailer maker Wabash National also pulled their earnings guidance for the year.
ACT Research cannot model downturn scenarios fast enough for Class 8 trucks, but high inventory levels make the coronavirus crisis a good time to take a production break as demand is practically nonexistent.
Daimler Trucks is executing structural changes around the world because of sliding sales.
New Class 8 truck orders dipped to their lowest level in a decade in 2019, payback for an ordering frenzy a year earlier.
Navistar will cut 10% of its worldwide workforce even as it gained market share for the third consecutive year.
Kenworth Truck Co. is finally satisfied that over-the-air software updates are safe for its trucks.
Class 8 truck manufacturers are beginning to pare production as the backlog of record orders from 2018 shrinks and new orders continue to be slow.
