International Truck and Engine Corp. spent $900 million on the all-new product platform it began rolling out with a medium-duty model in April. “That’s a considerable investment for a company with a market cap of around $2 billion,” points out Mark Stasell, vice president of product development at International. Two more new trucks are on the way this year, with plans calling for another two big rigs due to hit the market during the summer of 2002.
“Then in the following year will bring out a medium low-forward entry product -- that will be our first medium low-forward entry product we’ve had in many years -- and a conventional school bus,” Mr. Stasell says.
Mr. Stasell anticipates the all-new platform will achieve annual sales of 100,000 units. Design re-freshening is scheduled from 2006-’08 and complete overhaul in 2011-’13 .