The light-duty truck market is undoubtedly feeling the pressure of the current economic downturn in the U.S., and it looks as though the medium-duty truck market is feeling the same strain.
Due to these “significant marketplace and economic changes”, Navistar will not be buying General Motors’ medium-duty truck business. GM announced that Navistar was buying its medium-duty truck business late last year.
According to GM, Navistar and GM never inked a contract for the sale of the business, but rather had a memorandum of understanding. That memorandum has since expired, leaving GM to solely run its medium-duty truck unit.
Despite the setback, GM says it will “continue to review strategic options for the business, including continued discussions with Navistar.”
