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General Motors, Navistar break off purchase plans

General Motors and Navistar International have broken off their deal in which GM was to sell its medium-duty truck business to Navistar.

"Due to significant marketplace and economic changes, GM and Navistar have decided not to renew the memorandum of understanding to purchase GM’s medium-duty truck business, which has expired," said GM officials. "GM will continue to run the medium-duty business as it has in the past, including providing sales, service, and marketing support to GM dealers for its medium-duty trucks.

"GM will continue to review strategic options for the business, including continued discussions with Navistar."

In summer 2007, GM sold its Allison Transmission operation to an investor group.

View more refrigerated transport business news, including mergers, acquisitions and other partnerships.

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