Truck maker Navistar announced Oct. 4 that its financial services business is reintroducing retail capabilities to serve truck and bus customers.

Traton SE’s profits soared in the second quarter of 2023 as sales jumped compared with the year-ago period, the parent company of Navistar said July 26.

Traton SE profits jumped in the first three months of 2023 on the back of higher sales and an asset disposal, with truck production and sales at its North American Navistar unit climbing.

Traton Group reported operating profit fell 32% and revenue rose 32% in the nine-month period ending Sept. 30 compared with a year earlier, and noted a challenging environment remains.

Navistar parent company Traton Group in July reported strong operating results and revenue for the first half of 2022, despite what it called an extremely challenging market.

Truck makers Volvo Group, Daimler Truck and Traton Group announced their joint venture, launched in December 2021 to develop charging infrastructure in Europe, gained the final necessary regulatory approvals.

Traton Group reported operating income and revenue rose sharply in 2021 compared with a year earlier, amid its strong truck and service businesses, and the integration of new U.S. subsidiary Navistar.

Göran Nyberg, executive member for sales and customer solutions at MAN Truck & Bus SE, will join Navistar as executive vice president of commercial operations March 1.

The Traton Group reported sharp increases in its unit sales and incoming orders for commercial vehicles in 2021 compared with 2020 despite the continuing influence of the COVID-19 pandemic and the difficulties in the supply of semiconductors.

Traton Group, which now includes U.S.-based truck maker Navistar, reported gains in net income and revenue for its 2021 nine-month period on the strength of truck manufacturing and financial services.