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.