WARRENVILLE, Ill. (Jan. 12, 2010) – Navistar (NYSE:NAV) has launched a program that allows customers to return new, unused parts from their stock to receive cash or credit for future purchases. This program, known as Customer Parts Recovery (CPR), supplements and improves upon the GPRP program, which was only accessible to large fleet customers.
The CPR program offers a direct benefit to customers who would otherwise dispose of old or unused parts in scrap yards for pennies on the dollar. By working with their U.S. or Canadian International® or IC BusTM dealer, customers can return unused inventory, overstocks or obsolete parts in order to capitalize on available credit, regardless of prior purchase history.
With the initial parts redemption, customers receive 25 percent of the value of the products returned to use toward future parts purchases. Customers are required to purchase a predetermined amount of parts over a specified period of time as part of their CPR agreement. Upon completion of this agreement, customers will receive the full credit amount for their return.
“CPR goes beyond a loyalty program and becomes a way that our customers can secure real working capital from unused outdated parts,” said Michael Cancelliere, senior vice president and general manager for Navistar Parts in North America. “If someone turns in $10,000 worth of parts that have just been gathering dust, we take them and immediately give them $2,500 in cash or credit towards their parts purchases. They can get the full value of those parts back by fulfilling program purchase commitments.”
“A lot of our customers are looking for ways to improve their bottom line,” said Joe Coconate, outside parts sales representative, Chicago International. “With CPR, parts that haven’t been used for years can be converted to real money for our customers.”
The CPR program will provide credit through any card in Navistar’s Fleet Charge® network to track parts purchases and corresponding credit amounts.
Customers interested in participating in the CPR program can contact their parts sales manager at their local U.S. or Canadian International truck or IC Bus dealership.
About Navistar Parts
Navistar Parts, an operating unit of Navistar International Corporation (NYSE: NAV), delivers the right part, at the right place, at the right time. With the largest dealer network in North America, and extensive global locations, Navistar Parts supplies parts worldwide for all makes of medium and commercial trucks, including International® and IC BusTM brand vehicles. With more than 700,000 parts, 10 global Parts Distribution Centers and 100 years of building a solid aftermarket parts supply chain, Navistar Parts keeps you up and running. Navistar Parts private labels include: Fleetrite, PARTSMART and ReNEWed. Additional information on Navistar Parts can be found at www.navistarparts.com.
Navistar International Corporation (NYSE: NAV) is a holding company whose subsidiaries and affiliates produce International® brand commercial and military trucks, MaxxForce® brand diesel engines, IC Bus™ brand school and commercial buses, Monaco RV brands of recreational vehicles, and Workhorse® brand chassis for motor homes and step vans. It also is a private-label designer and manufacturer of diesel engines for the pickup truck, van and SUV markets. The company also provides truck and diesel engine service parts. Another affiliate offers financing services. Additional information is available at www.Navistar.com/newsroom.
Media Contact: Aveline Hauser, 630-753-6201 or Laura McGowan, 630-863-8709
Investor Contact: Heather Kos, 630-753-2406
Web site: www.Navistar.com/newsroom