Good news arrived by highway for investors in truckmakers Paccar (PCAR -0.46%) and Navistar (NAV +0.00%) Wednesday.
Con-Way (NYSE: CNW) announced that after polling its drivers for feedback on various truck manufacturers and models, it has decided to refresh its truck fleet with 525 new tractors -- 325 Kenworth T680s from Paccar, and another 200 Navistar ProStars.
Con-Way drivers praised the Kenworth for its design, interior, comfort, headroom, and increased sleeper bunk width. Navistar got high marks for cab comfort and interior. Con-Way will be buying the new trucks for its fleet as it retires an equivalent number of older trucks approaching 500,000 miles in service.
Financial specifics of the fleet refresh were not disclosed, but with the average tractor truck costing upward of $125,000 these days, the total purchase price of Con-Way's fleet should fall somewhere in the $65 million to $75 million range.
