Ford to Repay Navistar $80 Million

Ford Motor Co. will repay Navistar International Inc. $80 million as part of a deal that will ensure continued supply of diesel engines for
its Super Duty pickup trucks in the immediate future, The Associated Press reported.
Ford had debited about $160 million from Navistar invoices as part of the dispute over warranty and pricing issues, AP said. An agreement reached last Thursday and released Friday by a Michigan circuit court judge requires Ford to transfer $80 million to Navistar by today.
The auto maker can pursue a return of the $80 million through its ongoing lawsuit, AP said. Ford sued Navistar in January in Oakland County Circuit Court in Michigan, citing the warranty and pricing issues.
Ford has argued that its contract with Navistar states Ford may debit invoices, while Navistar disputes that claim, AP said.
Navistar stopped shipping the Power Stroke diesel engines to Ford, prompting the auto maker to go to court to force Navistar to continue deliveries, AP said.
The two companies have agreed to a consent order under which Navistar will continue shipping engines to Ford, and the auto maker will not debit Navistar's invoices, AP said. L&MT
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
Add image file
Upload is a website by car enthusiasts for car enthusiasts. It is not affiliated with any of the car or spare part manufacturers or car dealers discussed here. All logos and trade names are the property of their respective owners.