From the Detroit News | Ford Motor Co. and federal regulators remain in talks over whether the automaker should expand a recall of F-150 pickups over dozens of reports that air bags have deployed without warning. Get the full story »
Inside these posts: Trucks
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Navistar shares up after company raises forecast
Truckmaker Navistar International raised its forecast for the North American market and said it was on track to reach the high end of 2011 profit target, sending its shares up nearly 4 percent.
The improved forecast on Wednesday overshadowed a first-quarter profit that missed analysts’ expectations as truck margins disappointed. Get the full story »
Navistar reports 1Q loss on weaker sales
Navistar International Corp. reported a fiscal-first-quarter loss as results weakened at each of the commercial-truck maker’s main manufacturing segments. Still, Chairman and Chief Executive Daniel C. Ustian said encouraging industry trends should push full-year earnings to the high end of its previously projected guidance of $5 to $6 a share. Get the full story »
Ford recalling 150K F-150s for air bag fix
Under government pressure, Ford Motor Co. said Wednesday it will recall nearly 150,000 F-150 pickup trucks to fix air bags that could deploy without warning. The recall covers trucks from the 2005-2006 model years in the United States and Canada for what the auto company calls a “relatively low risk” of the air bag deploying inadvertently. Get the full story »
Caterpillar quadruples 4Q profit
Caterpillar Inc. reported a stronger-than-expected quarterly profit Thursday lifted by especially strong sales of its machines and engines in Asia and Latin America.
Caterpillar, the world’s largest maker of earth-moving construction and mining equipment, reported a fourth-quarter net profit of $968 million, or $1.47 a share, up from $232 million, or 36 cents a share, a year earlier. Get the full story »
Navistar posts lower quarterly profit
Navistar International Corp. reported lower quarterly earnings Wednesday, pulled down by employee termination costs from its new union contract. Get the full story »
Navistar gets $123M order for Marines vehicles
Navistar International Corp. said Friday that it has received a $123 million order from the U.S. Marine Corps Systems Command to deliver 175 armored International MaxxPro Dash vehicles. Get the full story »
Ford reports higher October sales
Ford Motor Co. says its October U.S. sales rose 19.2 percent, led by big increases in trucks and small cars. In the Chicago area, Ford’s sales rose 20.9 percent.
General Motors, Honda and others have already reported strong sales of crossover wagons last month, and Ford was no exception. Sales of the redesigned Edge crossover were up 24 percent, while Ford Escape sales rose 17 percent.
Ford says sales of the F-Series pickup rose 24 percent, thanks in part to a month-long truck promotion. Get the full story »
Agency OKs $314 million bonds for Navistar, others
The Illinois Finance Authority approved up to $314 million of tax-exempt revenue bonds on Tuesday for truck maker Navistar International Corp and others.
Navistar won final approval for $145 million of Recovery Zone Facility Revenue Bonds to help fund its new headquarters and research and development facility in Lisle, Illinois, and a warehouse in Joliet, Illinois.
To issue the bonds, Navistar must get allocations of the federal Recovery Zone Facility Bond volume cap from other Illinois counties and cities, according to the authority. Get the full story »
Navistar swings to 3Q profit, beats estimates
Navistar International Corp. swung to a fiscal third-quarter profit that handily topped analysts’ estimates as sales rebounded and margins widened sharply.
But the revenue growth was less than anticipated and the maker of heavy-duty vehicles lowered its top-line forecast for the year to $12 billion from its upbeat April view of $13.2 billion to $13.7 billion as it said it will defer military revenue to the next fiscal year. But it affirmed its earnings prediction, saying it “has found other measures” to meet the estimate. Get the full story »
