Navistar records $3 billion net loss in 2012
Engine and truck manufacturer Navistar reported Wednesday a loss of $2.8 billion in the fourth quarter of the 2012 fiscal year, stemming largely from restructuring efforts, valuation allowance of its deferred tax assets and warranty claims on its 2010 MaxxForce engines.
Navistar says it recorded a $3 billion net loss for the entire year, compared to a $1.7 billion profit in 2011. Navistar says it recorded $255 million in profit in the fourth quarter of 2011.
One insurance rep cites a likely 25 percent increase in premiums for ...