kscarbel2

Ex-VW executive pleads guilty in diesel emissions scandal The Financial Times / August 4, 2017 Oliver Schmidt, former head of US environmental compliance at Volkswagen, pleaded guilty to criminal charges in federal court in Detroit for his role in the automaker’s decade long conspiracy to cheat on emissions tests. Mr Schmidt, a German national who appeared in US district court in Detroit on Friday, was arrested in January while holidaying in Miami. “He pleaded guilty to conspiring to defraud the United States, to commit wire fraud, and to violate the Clean Air Act”, according to a court statement. The first charge carries a maximum penalty of 5 years in prison and/or a $250,000 fine or twice the gross gain or loss resulting from the violation, the court said. The second charge carries a maximum penalty of 2 years in prison and a $250,000 or twice the gross gain or loss resulting from the violation. “In exchange for Schmidt’s guilty plea, federal prosecutors dropped a third charge, wire fraud, which carries a maximum penalty of 20 years in prison and/or a $250,000 fine”, the court said in a statement. Under the terms of a plea agreement with federal prosecutors, Schmidt could face up to 84 months in prison and a fine ranging from $40,000 to $400,000. Although the agreement does not call for him to pay any restitution, it would require that he be deported after completing the sentence, the court said. Mr Schmidt, who has been in custody since his arrest in January, will remain confined pending sentencing on December 6. He is the second person to plead guilty to criminal charges, after James Robert Liang, a VW engineer, in September. Mr Liang agreed to co-operate with US government investigators in return for leniency. In January, the US government indicted Schmidt and five other VW executives and managers, but the others are thought to be in Germany and have not been arrested. Mr Schmidt was head of the company’s engineering and environmental office in the US from 2012 to early 2015. US regulators first queried VW about emissions irregularities in mid-2014. The compliance office that Mr Schmidt led responded with “false and fraudulent statements” to make the discrepancies between cars’ emissions in the laboratory and on the road appear as if they were “innocent mechanical and technological problems,” according to US prosecutors.

GM recalling nearly 800,000 pickup trucks worldwide Reuters / August 4, 2017 WASHINGTON -- General Motors is recalling nearly 800,000 Chevrolet Silverado 1500 and GMC Sierra 1500 pickup trucks worldwide that could lose power steering, according to documents made public Friday. The largest U.S. automaker said the 2014 model year trucks could suffer a temporary loss of electric power steering, especially during low-speed turning maneuvers, according to documents disclosed Friday by the National Highway Traffic Safety Administration. The recall includes about 690,000 vehicles in the U.S., 80,000 in Canada and around 25,000 in other markets. GM dealers will reflash the vehicle's software to address the defect. GM spokesman Tom Wilkinson did not have any details on whether crashes or injuries are connected to the recall. GM told regulators that before the 2015 model year it made a series of changes to address potential sources of temporary low voltage conditions that disable the power steering. GM has not said when dealers will begin repairing vehicles.

A Scania North America distributor of industrial engines, marine engines and gensets. https://www.scania.com/us/en/home.html

Timmy, yes, the Scania V8 can be configured to meet current AND upcoming US emissions.

Ex-FCA analyst faces 2 federal charges in FCA-UAW probe Automotive News / August 4, 2017 DETROIT -- Former Fiat Chrysler financial analyst Jerome Durden was released on a $10,000 bond Friday after he was charged in federal court on accusations of participating in a plot between the automaker and the UAW to pipe millions from an employee training fund for personal use. Durden, 61, faces one count of conspiracy to defraud the United States and one count of failure to file a tax return while he worked for the automaker. The fraud charge carries a maximum penalty of five years in prison and a $250,000 fine. The tax charge carries a maximum penalty of one year in prison and a $20,000 fine. In a 16-page indictment, unsealed last week, prosecutors say more than $1 million in UAW-ChryslerNationalTrainingCenter funds were spent by FCA executives and union leaders for personal use. The indictment alleges Durden used $4,300 in union funds to purchase and install carpeting in his home in suburban Detroit. Durden's lawyer, Judith S. Gracey, declined to comment. In a separate indictment released last week, former FCA labor relations chief Alphons Iacobelli and Monica Morgan, widow of UAW Vice President General Holiefield, were named as key figures in the alleged scheme. Both had a plea of not guilty entered on their behalf and were released on $10,000 bonds. The arraignment comes less than a week before Durden's plea hearing, slated for Tuesday, in federal court in Ann Arbor, Mich., according to court records. Iacobelli's appearance is scheduled for the same day. Durden was ordered by U.S. Magistrate Judge David Grand to relinquish his passport following his plea hearing. In addition to his position as an analyst in the accounting department, Durden controlled the budget for the training center, intended to help blue-collar workers, between 2008 and 2014. Iacobelli abruptly parted ways with FCA in June 2015 after Holiefield's death in March that year. At the time, the automaker said Iacobelli retired, but in light of the charges, FCA said Iacobelli and Durden were fired after the company investigated possible wrongdoing with the training funds. Durden, who stood mute during the arraignment, refused to comment as he left the courthouse alone. More people are expected to be charged. Several individuals are mentioned in the 42-page indictment of Morgan and Iacobelli, but the government has yet to release their identities. .

Well said. My concern is this is going to drag out, with one dealer suddenly put on the spot for work performed by another dealer. They're never comfortable in that situation, understandably so. And then you have the "slow as molasses" Volvo (Mack) warranty process. The relationship, the atmosphere, between Mack dealers in the Volvo era is not at all what it was in the days of Mack Trucks. This all works against you. If Mack "Customer Satisfaction" in Greensboro fails to assist you in a timely fashion*, call Mack brand head Denny Slagle directly and share your situation with him. You recently invested 13K with his Volvo-owned Mack brand organization and have a legitimate issue. It's his job to listen. * Your truck is a revenue-generating vehicle. Time is money. You have a "truck down" situation.

There might be an argument here, in light of all the facts, the amount of money you invested in genuine Mack parts and all work performed at a Mack brand dealer, that Mack corporate provide you with the option of purchasing a reman engine at a discounted price, in the interest of "customer satisfaction". Nobody is perfect, and the dealer has no detailed engine component inspection equipment alike the Reman Center. But that said, you went far and beyond, and the Mack brand system failed you. Again, I'm not so much faulting the dealer (I have no details), but rather suggesting that you have a strong case to argue with Mack corporate. Volvo can easily absorb the expense, if it wants to provide "customer satisfaction".

If I had bought a clean 2000 year Mack, at the first sign of engine trouble, not knowing the truck's history in any detail, I would have had a dealer install a complete Mack factory remanufactured engine if I intended to work the truck day-to-day long-term. While such a strategy can easily be argued against when it comes to costs and profits, the Mack warranty on their remanufactured engines (2-years / unlimited miles), and the fact that it was Mack brand dealer installed, would provide me with "peace of mind" from coast-to-coast. In fact, I would have gone with the optional 3 year/350,000 mile warranty, available when the reman engine is installed by a Mack brand dealer. https://www.macktrucks.com/~/media/files/remack_hotsheet_basic_engine_new_format.ashx

So you clearly had this Mack brand dealer exceed their minimal recommendations by a substantial amount. Your thought process as described is to be commended, and huge ammunition for your case when speaking with Mack Customer Satisfaction in Greensboro. Put it all down on paper before you call them.

Unlike the warranty system of the former Mack Trucks, Volvo warranty processing is painfully slow. You're not alone, the dealers hate it as much as you. There's been large scale resistance to the "uptime" scheme, in as much as Volvo has frustrated the Mack brand dealer network in so many ways. Volvo wants and wants, but fails to give (With the former Mack Trucks, it was a 2-way street).

Volvo wants to be at the center of your world and be the only person to touch your truck. With that theme in mind, when the original Mack brand dealer was doing the work, installing thousands of dollars of genuine Volvo parts, did you go against any of their recommendations?

I suggest you call Volvo Group's Mack brand customer satisfaction hotline (U.S. and Canada) at +1 (866) 298-6586 and start working this problem from that angle as well. It makes a huge difference when dealers know that Greensboro is following this. Are either of these dealers "uptime" certified by Volvo? .................http://fleetowner.com/maintenance/mack-reaches-100th-certified-uptime-center

I feel your pain and frustration, particularly just after that substantial investment.

Ford calls German diesel deal 'ineffective' Automotive News Europe / August 4, 2017 FRANKFURT -- Ford Motor's German operations decided against an industry-wide program to clean up diesel cars with software updates, calling the plan ineffective. BMW, Daimler and Volkswagen Group on Wednesday agreed to update the engine software of more than 5 million diesel cars in Germany to reduce harmful NOx emissions. Most models will be Euro 5 diesels with some Euro 6 models included in the refit recall. Ford said it believes a software retrofit will result in "negligible customer benefit and have no real impact on air quality." The deal also could raise "unrealistic" expectations from the authorities and non-governmental organizations, Ford said in a statement. Instead Ford Germany is offering incentives of between 2,000 euros and 8,000 euros to encourage customers to trade in Euro 1, 2 or 3 diesels registered in 2006 or earlier for a new Ford model. Ford said it is evaluating whether to extend the offer outside of Germany. Volkswagen Group, BMW and Toyota also are offering trade-in incentives for older diesels in Germany. BMW will give owners of Euro 4 or diesel cars a bonus of up to 2,000 euros when they trade in their vehicle for a BMW i3 electric car, a plug-in hybrid or a Euro 6-standard vehicle. Toyota is offering up to 4,000 euros to German customers who swap a diesel car from any brand for a new Toyota hybrid model. Volkswagen Group said it will give trade-in incentives for Euro 1 to Euro 4 diesel models across all brands including the VW, Audi, Porsche, Skoda, Seat marques. It did not specify how much the incentives would be. Foreign brands criticized German Transportation Minister Alexander Dobrindt criticized import brands, which have so far declined to take part in the software update recall because they cannot agree on a common position. "I made it very clear during the summit that the behavior exhibited by the foreign manufacturers is entirely unacceptable," he said. "Whoever wants to retain their share of the German market must be prepared to accept responsibility for the cities, for public health and cleaner air, and these manufacturers are not yet meeting their responsibilities." Clean air campaigners criticized Wednesday's deal, which was agreed at a summit in Berlin attended by politicians and top auto industry executives. Public health advocates and environmental lobbyists said only a more expensive hardware solution will sufficiently lower tailpipe pollutants. They also question promises from automakers that the software fix will not affect the engines' performance, fuel consumption or durability. Volkswagen Group agreed to recall 1.5 million vehicles across its stable of brands, while Daimler will update 900,000 models and BMW said it would update emissions software on 300,000 cars. Opel, which has the lowest diesel share of any German brand, committed to unspecified improvements. Additionally nearly 2.5 million Volkswagen Group Vehicles are receiving the software on a mandatory basis. City bans Ford accepted that diesels may have to be banned from areas with poor air quality. Munich and Stuttgart are among cities considering bans. "No measures – including restrictions on vehicles in certain emission hot spots – should be ruled out," said Ford's Germany sales and marketing chief, Wolfgang Kopplin. Pollution from diesel emissions has become a hot topic ahead of Germany's general election on Sept. 24. Chancellor Angela Merkel's government has been criticized for cozy ties to the auto industry, which is the country's biggest exporter and provides about 800,000 jobs.

Recent (from 2013?) New Zealand-assembled 9800i's had a unique grille treatment. Note the cab sits higher.....the headlamp/side fender panels are taller. And now the latest grille mimics the LoneStar (Intertruck 9870). And note the new step arrangement. .

What had been planned to be the 9800i's replacement in the global market..........AeroStar. .

DT466, DT570 and HT570. Great engines. Navistar's mis-guided (Dan Ustian) EGR direction gave all their engines a bad reputation, and being proprietary they needed volume to be viable, as well as justify future investment for tightening emissions. Ustian is to blame for the premature demise of these engines. Redesigned in 2014, I feel these are still great engines, particularly set up for SCR. But the Cummins ISB is universally loved. I personally never cared for the ISL in a heavy truck application, but they're selling.

Hendrickson Press Release / August 1, 2017 The ULTRAA-K® system is engineered with an optimized strength-to-weight ratio making it stronger than comparable standard and heavy duty 40K slider models in the market today. It is the lightest slider system in the industry by nearly 100 pounds .

T950 LEGEND OF LAWRENCE TRANSPORT Warren Caves, Power Torque Magazine / August 2017 When Kenworth Australia decided on releasing the limited-edition T950 Legend, essentially making old new again, I suspect that even their own management team was taken aback a little by the demand. All 75 units sold out within 48 hours of release announcement, in fact they were oversubscribed. A real plus for the sales team for certain. Originally released in 1992 and running through to 2007, the 950 was a solid performer, equally at home pulling triple road trains as it was on East Coast highway duties. The nostalgic appeal must have been substantial to generate the kind of excitement caused by the announcement of the T950 Legend. Perhaps it was the lure of a limited edition, creating a sort-after classic in the future, or the chance to grab a truck of “Legendary” heritage amalgamated with all the modern advancements in technology to create that perfect partnership of old and new. Previous limited-edition models, such as the T909 Director, were dressed up versions of their original stablemate, with extras and bolt-on bling. Not so with the T950 Legend. A genuine stand-alone Limited Edition was designed, created and built at the Bayswater manufacturing facility. With its High, setback modular cabin with no engine intrusion into the firewall, the 950 is a unique beast with old-school credibility, modern-day compliance, and safety, appealing to obviously a large spectrum of purchasers and more than a few disappointed bidders. From a cabin interior styling perspective the Legend gets a flat dash panel with white background gauges, air-operated windows, custom wood-grained gearstick knob and retro badging on the doors and gearstick boot surround, plus custom seating. This is all embellished by the studded red vinyl trim providing styling accents dating back decades. Externally, the stainless-steel infill panels below the air cleaners give away the limited-edition status, as does the Cummins Diesel, black on gold insignia recreated for this release. Laser cut identification of the model is also carried over into the Mr Bullbar side wings, adding a nice blended touch. There also must have been a few cans of Cummins beige spray paint left on the shelves from the eighties, which was used to paint the usually red ISX engine. Retro external steel door handles are also included. Our featured truck is owned and operated by Lawrence Transport and has the title of #72 out of the 75 sold. Lawrence Transport was started by John Lawrence 38 years ago and is still very much a family oriented business, still operated by John and his two sons, Kel and Blake. Currently operating 18 prime movers and 70 trailers, the company utilises up to ten subbies, as needed, out of its Ingleburn NSW depot. “We are a family business and pride ourselves on old fashioned personalised service,” said John. “We have customers that have been with us for 35 years. We do quite a bit of wharf work in containers as well as generalised work in curtainsided trailers. A lot of the work we specialise in is dangerous goods, and we operate all over NSW as well as interstate as demand dictates”. The Lawrence men have always been loyal to the Kenworth brand; however, John said that this is the first Kenworth he has had that is Cummins powered, being an ISXe5 @ 615 horsepower. With the absence of Caterpillar power as an option, John admits to having a little trouble getting used to its mannerisms. But, being only eight months in service and with 45,000 km on the clock, it still has time to get on his good side and prove it can match it with the Caterpillar engines he has previously been accustomed to. Interestingly, John said, “It (the Cummins) seems to work best at 64 tonnes, more so than when it’s running lighter”. An 18-speed Eaton manual transmission and 4.1 Rockwell differentials round out the driveline. Purchased in late 2015, the Legend was ordered in the company maroon paint as a base, with the final painting to the company scheme, and then given to Max Smash Repairs in Smithfield. Blake Lawrence explained that, “We feel very privileged to have been lucky enough to be a part of this limited-edition model, particularly with such demand”. A good deal of customisation was also carried out on #72 before it was put into service as Johns Truck. Blake explained that it went to Klos Custom Trucks for the bulk of this work. “On the outside, we wanted to keep with the old 950 feel, so we changed the original roof bullet lights for some more period-styled lights and swapped the round bonnet blinkers for square ones. Stainless steel rock guards around the headlights, stainless steel elephant ears on the front of the air cleaners with LEDs and a stainless steel mid-drop sun visor were also installed”. John is the first to admit that, “I’m not that keen on polishing, which is why we went with stainless steel wherever possible. It costs a bit more initially, but is worth it in the long run”. The fuel tanks have been stainless wrapped, cleverly incorporating the wrapping around the AdBlue tank, making it look as one. Stainless wrapping was also used on the alloy wheels, ensuring a long-lasting durable shine, without the polishing. Stainless steel was used on the battery box covers and guards, which utilise low mount brackets hidden from view. Seven-inch exhaust pipes reach skyward. The inside of the cabin didn’t miss out either, with Custom Air in Melbourne fitting a diesel-powered heating and cooling unit with dual-zone control. Other luxuries include an upright Waeco fridge, TV and DVD player, and, wait for it, a fully-automatic espresso machine, for those mornings when you just can’t get going without your morning heart starter. All power is distributed by the 2000-watt pure sine-wave inverter. Occasionally a two-up run is needed, or John’s wife or grandkids might go for a run, so a double-bunk is also featured in the cab. The legacy of the T950 has well and truly been revived, albeit in limited numbers, much to the chagrin of some. The T950 Legend will no doubt be a sought-after acquisition for years to come by way of its limited availability, so, if you missed out on this one, perhaps you got in quick on the recently released T900 Legend. If not, you’ll just have to be content crying over your beer in the pub, and dreaming of what might have been. .

Chris Mullett, Power Torque Magazine / August 2017 Technology has not necessarily improved efficiency, and, for those with long memories, today’s experts could learn a lot from yesteryear December 25th, 1938, H.W. Crouch Pty Ltd, the NSW distributors of Federal Motor Trucks, published Volume 4, Number 11 of the Federal News. This Christmas Day issue led on page one with the “Sylvan Beauty of Bathurst”. Never mind that World War II was looming ever closer, the importers and distributors of Federal Trucks published Federal News on the 25th of each month to inform Federal Truck owners of news and progress as a service and courtesy, and it was therefore duty bound to publish on Christmas Day. The lead editorial feature on page two was titled “Federal Fleets Grow” and announced proudly the receipt of an order from Messrs. Lopez Bros. of Victoria Road, Gladesville, Sydney, for its eighth Federal Truck – this latest one being a two-tonner: “In this particular instance, the first Federal Truck purchase was made as far back as July 1929. The second order came along in August 1935, and the third in April of the following year. In 1937, Lopez Bros. purchased three more Federal Trucks, and this year (1938) they have purchased two. A fleet of eight Federal Trucks is a splendid advertisement for the enterprise and industriousness of the Lopez Bros”. Based in Detroit, Michigan, the Federal Motor Truck Company manufactured its products between 1920 and 1959. Federal outsold Diamond T in 1927 and 1928, but thereafter lost the lead to its rival and never recovered, dropping sales to just 1300 units in the depression years before picking up during the war through US Defence Force purchases. In those days it was impressive to speak of truck engines managing to produce 90 hp at 3000 rpm from a 4.3-litre, six-cylinder hauling a GVM of 7.7 tonnes. But while the name of Federal Trucks is a passing memory, its staunch supporter at that time, Messrs. Lopez Bros., still exists today, hauling containers and general freight with its fleet from its base now in Enfield, and run by Phillip and Anne Lopez, joined in recent years by their son Ben. PowerTorque caught up with Phillip’s brother John Lopez and his son Danny on a winter Saturday morning, not to reminisce, but to discuss Danny’s 2007 Western Star 4800, the focus of attention for a photographic feature by Steven Foster, who, as well as heading the MMMG graphic art team, is also acknowledged for the high quality of his creative photography. John Lopez explained that the family had always been involved in trucks, and, with a history dating back to 1929, the link between those early days of the company and today is how the company maintained virtually its exact livery through nearly 90 years, complete with hand signwriting of the Lopez name and scroll work. “In those early days my grandfather started off doing general freight, and in the war years they used to cart the entertainment around for the soldiers. My grandfather died when my father was just 15 years old, and even at that young age he then joined the company. In those days they used to do engine rebuilds at the side of the road and had a wide range of skills that nobody seems to possess today,” said John. “When you look at the ways trucks were loaded in those days, the idea of load restraints was virtually unknown. The yard was in Gladesville, and as housing and shops encroached on the yard they restricted the available space to such an extent that the decision was made to move to Enfield, where the company remains based today,” John added. John still fills in occasionally for driving duties, but, predominantly, runs a property in Yass, NSW. Meanwhile, his son Danny runs country NSW and occasional interstate runs mainly on drop-deck work hauling farm equipment. With his 2007 registered Western Star 4800FXB, resplendent in the Lopez Bros. company livery, Danny has notched up over 1.4 million km without any major rework, with the exception of a new camshaft and followers. Opening the door of the Western Star, now some 13 years old, gave a good indication why the truck with its Detroit Series 60 was performing so well. The interior could be considered to be as new, an amazing tribute to the way the family looks after its assets, and, in particular, how Danny looks after his truck. The fleet totals some 12 vehicles, with 4 prime movers being Western Star for the longer haul work and UD for use around town hauling containers to and from the Sydney ports. The Western Stars have a variety of engines, including the Cat C13, the 12.7 Detroit and a DD13, and the 14-litre Detroit Series 60 in Danny’s truck. Maintenance is handled in-house with the assistance of a mechanic. Oil is always BP, as John believes an engine benefits from the use of the same lubricants through its life. “We’ve been with BP for over 20 years and we run our oil drain intervals at 15,000 km. The other benefit we have noticed is with the Eaton Auto Shift transmission. When we change the oil there’s never a hint of metal in the lubricant. We standardised on the automated manuals some years ago and it’s been an ideal choice,” said John. “For tyre choice the Western Star 4800 runs Bridgestone 150s in 295/80R22.5 on the steer axle with Firestone 11R22.5s on the drive axle. The Firestones are performing well with tyre life of around 100,000 and 140,000-150,000 km on the steer tyres. “In terms of fuel economy, we regularly get well over 2.0 km/litre, although some days running over the mountains if the weather is bad we may drop to 1.8 km/l with the drop-deck,” commented John. .

Scania Group Press Release / August 3, 2017 Red Pearl and Chimera wow the crowds at Convoy in the Park. Two of Svempa’s spectacular customised trucks – Red Pearl and Chimera – wowed the crowds at the recent Convoy in the Park truck festival in England. The trucks have been on show at various events around Europe over the summer, and the dynamic duo were driven to the event by Robert Bengtsson and Jan Gisslén from Scania. Both Robert and Jan were inundated with questions about the trucks, with enthusiasts wearing out their phone batteries taking photos and movies. And of course, there was the opportunity to hear these magnificent machines’ distinctive roar, which, as our film shows, had people swarming round them like bees to a honeypot. . .

Navistar to drop its medium duty engines by next year Jason Cannon, Commercial Carrier Journal (CCJ) / August 3, 2017 Navistar announced Thursday plans to cease engine production at its Melrose Park, Ill., plant by early next year as the truck maker continues that facility’s transformation into the company’s technical center. The move will bring the company’s medium duty 9/10 liter engines to an end. “Our N9/10 engine family was updated in 2014 and since then has served as a competitive niche offering for specific medium-duty vehicles,” says Persio Lisboa, Navistar chief operating officer. “As we approach future regulatory requirements, the low volume nature of the platform could not justify further product development investments on it.” Navistar reintroduced the 6.7 liter Cummins engine as an option for its Class 6/7 medium duty vehicles in 2013, and in 2016 made available a 9 liter Cummins engine option. The Cummins ISL and ISB, which now take standard position in those trucks, are manufactured in Indiana and North Carolina, while Navistar’s big bore engine plant in Alabama will continue to make engines for International Class 8 trucks. The cessation of engine manufacturing at Melrose Park is expected to affect about 170 employees, many of which are retirement eligible, and reduce Navistar’s operating costs by approximately $12 million annually. Assistance and opportunities for retraining will also be offered to affected employees. “Ending production anywhere is a difficult decision because it affects employees,” Lisboa says. “We continue to be committed to investing in our Melrose Park facility as we complete its transformation into a technical center that is integral to our product design, engineering and sales teams. Given the investments we’ve made, we expect to have a significant presence in Melrose Park for years to come.” Navistar began the transformation of its Melrose Park facility in 2010 by adding a state-of-the-art truck testing and validation center on the 80-acre campus, which complemented an existing engine test center there, all of which is in close proximity to Navistar’s product development teams in Lisle and to the company’s New Carlisle, Ind., proving ground. Over the last several months, the company added a used truck evaluation and reconditioning facility and its flagship Used Truck Sales Center to Melrose Park. Additional consolidation in the former manufacturing space is possible in the future, Navistar says, which would allow even more employees in product design, engineering, service and sales units to work alongside each other.

Heavy Duty Trucking / August 3, 2017 Volkswagen has quietly purchased a significant number of shares in Navistar International Corporation, parent company of International Truck and Engine, during the month of July, according to reports in various international financial news sources. Volkswagen has been a major shareholder in International since purchasing a $250 million stake in the Lisle, Ill., company in September of last year and the two companies have collaborated on diesel engine technology for commercial trucks for over a decade. According to a report in the financial journal Week Herald, Volkswagen acquired 43,501 shares of International stock on Monday, July 17th at an average price of $29.25 per share, for a total transaction of $1,272,404.25. That transaction was followed closely by four additional Navistar stock purchases by Volkswagen in July, ultimately netting the German car and truck manufacturer an additional 341,663 shares in the company for approximately $9,991,085. All told, Volkswagen invested approximately $11,263,489 in Navistar International stock last month. According to additional reporting by the United Kingdom’s Press Herald, as of July 21, 2017, Volkswagen owns approximately 16.4 million shares of Navistar International stock, which is approximately 17% of the company’s overall market capitalization. .