COLUMBUS, Ind. — Strong sales outside slumping North America helped power Cummins to record sales and profits in the second quarter, the company announced today.
Sales outside the US grew to 61% of Cummins overall business, up from 54% in 2007. In the heavy-duty engine segment, sales and market share both experienced increases over the same period in 07. This was complimented by increasing medium-duty engine sales, especially in outside markets such as Brazil and Mexico, the company reported.
“We had an outstanding second quarter in the face of some very real economic challenges, especially in the US,” said Cummins CEO Tim Solso. “We are managing all of our businesses very carefully and the results speak to the effectiveness of our global growth strategy.”
Cummins said the company as a whole will increase its sales projection for 08 by 15%.
In the engine segment, sales were up 13% over the same time last year. Heavy-duty truck engine sales were up 42% while medium-duty and bus engine sales increased 32%. This helped offset a decline in consumer engine sales into the light-duty and RV markets, the company reported.
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