Navistar raises forecasts as cargo firms race to boost fleets [Reuters]
Navistar Intl Corp (NAV)
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Source: Reuters
Navistar raises forecasts as cargo firms race to boost fleets | Reuters 3 Min Read (Reuters) - Truck maker Navistar International Corp ( NAV.N ) raised its full-year revenue and deliveries forecast for the second time this year as freight companies scramble to add more semi-trucks to their fleets, sending its shares up 9 percent. U.S. truck makers are benefiting as most hauliers are replacing older trucks with more fuel-efficient vehicles as well as buying more trucks following the implementation of electronic logging devices aimed at reducing long driver hours. Orders for Class 8 highway trucks, the 18-wheelers that haul freight across the country, started improving since late 2017, following declining sales in 2016 when trucking companies adjusted their fleets amid lackluster retail sales. Navistar said it now expects deliveries of Class 6-8 trucks and buses in the United States and Canada of 380,000 to 410,000 units, up from its previous forecast of 360,000 to 390,000 units. A co
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