Caterpillar bows out of the on-highway truck market

Caterpillar (CAT), the world’s leading off-road machinery manufacturer, has scrapped plans to build its own line of on-highway trucks. In July 2015 the company announced it would end its partnership with Navistar, which previously manufactured the CAT CT range, and put two new models into production at a facility in Victoria, Texas. Instead, it now emerges that the company will leave the market altogether. Trucks already on the road will receive continued support.