Jan. 19 (Bloomberg) -- Navistar International Corp., the maker of International brand trucks, fell the most in almost four months after Courthouse News reported it lost a bid to force the U.S. Environmental Protection Agency to recall certain 2010 engines.
Navistar slid 6.9 percent to $38.82 at the close in New York, the biggest drop since Sept. 22. Navistar gained 2.5 percent this year after falling 35 percent in 2011.
The company lost in its attempt at the U.S. District Court for the District of Columbia to force the EPA to recall its competitors’ model year 2010 engines using selective catalyst reduction to cut truck emissions, Courthouse News Service reported yesterday. Navistar said that technology doesn’t comply with standards being written under the Clear Air Act, Courthouse News said.
Navistar chose to meet tightening federal standards with exhaust gas recirculation, and its sales have suffered. Competitors including Volvo AB and Daimler AG have adopted selective catalyst reduction technology.
The EPA is pleased with the court decision, Catherine Milbourn, a spokeswoman, said in an e-mail.
--Editors: Bill Koenig, John Lear
To contact the editor responsible for this story: Jamie Butters at email@example.com