CNH Industrial N.V.’s (CNHI - Free Report) brand IVECO BUS has signed a five-year agreement with Belgium’s Brussels public transport operator STIB-MIVB to deliver 141 Urbanway buses. Per the agreement, IVECO BUS will offer a package, including planning, construction, implementation, and supply of spare parts and battery pack maintenance along with traction chain components.
By the end of 2019, these new buses will aid STIB-MIVB to increase Brussels bus network’s total capacity by almost one-third. The deal also marks an important part of network development by using environmentally friendly and sustainable vehicles.
Urbanway by IVECO BUS is an 18-meter-long hybrid electric, which is designed to improve travel situation, with a low floor to manage passenger flow. Further, the bus has a combined electric traction system, with a Euro VI engine. The energy storage system boasts the latest technology and offers a cleaner mobility solution.
CNH Industrial N.V. Price and Consensus
CNH Industrial’s IVECO BUS engages in the development of passenger vehicles in the fields of alternative fuels and tractions as well as concept cars, with the aim to reduce fuel consumption and carbon emission.
In the past three months, CNH Industrial’s stock has lost 0.5%, outperforming 12.8% decrease recorded by the industry it belongs to.
Zacks Rank & Other Key Picks
CNH Industrial currently carries a Zacks Rank #2 (Buy). Other top-ranked stocks in the auto space include PACCAR Inc. (PCAR - Free Report) , Allison Transmission Holdings, Inc. (ALSN - Free Report) and Fox Factory Holdings, Inc. (FOXF - Free Report) . PACCAR currently carries a Zacks Rank #2 while Allison Transmission and Fox Factory sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
PACCAR has an expected long-term growth rate of 10.8%. Over the past three months, shares of the company have gained 7.9%.
Allison Transmission has an expected long-term growth rate of 10%. Shares of the company have risen 25.8% in the past three months.
Fox Factory has an expected long-term growth rate of 16.8%. Over the past three months, shares of the company have gained 65.2%.
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