Navistar Trims ’08 Forecast

Truck and engine maker Navistar International Corp. trimmed its fiscal year 2008 industry forecast for commercial truck and school bus sales in North America, Reuters reported.

Navistar, the parent company of International Truck and Engine Corp., also reported downturns in its fiscal fourth quarter and 2007 truck and engine shipments, Reuters reported.

Worldwide engine shipments fell 21.4% to 97,688 in its fiscal fourth quarter from a year earlier and fell 22.1% to 404,704 in fiscal 2007, Reuters said, citing the company.

Navistar said it shipped 27,519 heavy and medium trucks, school buses and other vehicles in the quarter, down 46% from a year earlier, while shipments were down 33% to 106,429 for the year, Reuters said.

Navistar expects sales to range from 303,000 to 328,000 for its fiscal 2008, ending on Oct. 31, compared with a prior forecast for 328,000, it said in a filing with the U.S. Securities and Exchange Commission, Reuters reported.

The outlook includes medium-duty trucks, heavy-duty and severe-service trucks and school buses, Reuters said.