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Rule 424(b)(3)
Registration No. 333-103437

PROSPECTUS SUPPLEMENT NO. 2 DATED AUGUST 26, 2004
TO PROSPECTUS DATED MARCH 12, 2003

NAVISTAR INTERNATIONAL CORPORATION

21/2% Senior Convertible Notes due December 15, 2007
and
5,473,926 Shares of Common Stock
Issuable Upon Conversion of the Notes

        This prospectus supplement relates to the resale by the holders of our 21/2% senior convertible notes due December 15, 2007 and the shares of our common stock issuable upon conversion of the notes. You should read this prospectus supplement in conjunction with the prospectus dated March 12, 2003, which is to be delivered with this prospectus supplement.

        The selling securityholder table and related notes on pages 43 through 45 of the prospectus are hereby amended and restated in their entirety as set forth below to reflect additional selling securityholders and updated information submitted to us by selling securityholders originally listed in the prospectus dated March 12, 2003:

Name
   Principal Amount at
Maturity of Notes
Beneficially Owned
That May Be Sold (1)
   Shares of
Common Stock
Owned Prior to
the Offering (2)(3)
   Shares of
Common
Stock
Offered (3)
   Shares of
Common Stock
Owned After
Completion
of the Offering
Aftra Health Fund   $ 115,000   3,313   3,313   0
AIG DKR SoundShore Opportunity Holding Fund Ltd     2,500,000   72,025   72,025   0
Akela Capital Master Fund, Ltd     6,000,000   172,860   172,860   0
Allegheny Technologies Inc. Pension Plan     800,000   23,048   23,048   0
Argent Classic Convertible Arbitrage Fund (Bermuda) Ltd     6,200,000   178,622   178,622   0
Argent Classic Convertible Arbitrage Fund L.P.     3,300,000   95,073   95,073   0
BNP Paribas Equity Strategies, SNC     9,192,000   269,581   264,822   4,759
BP Amoco PLC Master Trust     259,000   7,461   7,461   0
Caspian Capital Partners LP (4)     1,200,000   39,955   34,572   5,383
Chrysler Corporation Master Retirement Trust     3,720,000   107,173   107,173   0
City of Stamford Police Pension Fund     148,000   4,263   4,263   0
Coastal Convertibles Ltd.     1,000,000   28,810   28,810   0
Colgate—Palmolive Company Retirement Trust     400,000   11,524   11,524   0
Context Convertible Arbitrage Fund, L.P.     490,000   14,116   14,116   0
Context Convertible Arbitrage Offshore Fund, Ltd.     260,000   7,490   7,490   0
CooperNeff Convertible Strategies (Cayman) Master Fund, L.P.     5,115,000   147,363   147,363   0
Credit Suisse First Boston
Corporation		     17,000,000   489,772   489,772   0
DBAG London     27,000,000   777,873   777,873   0
Deam Convertible Arbitrage     4,000,000   115,240   115,240   0
D.E. Shaw Investment Group, L.P.     1,000,000   28,810   28,810   0
                   

D.E. Shaw Valence Portfolios, L.P.     4,000,000   115,240   115,240   0
Deutsche Bank Securities Inc.     1,250,000   36,012   36,012   0
Geode U.S. Convertible Arbitrage Fund, a series of Geode Investors, LLC     2,000,000   57,620   57,620   0
Golden Rule Insurance Company     232,000   6,683   6,683   0
Grace Convertible Arbitrage Fund, Ltd.     4,000,000   115,240   115,240   0
Highbridge International LLC     15,000,000   432,152   432,152   0
Hotel Union and Hotel Industry of Hawaii Pension Plan     109,000   3,140   3,140   0
KBC Financial Products USA Inc.     2,000,000   57,620   57,620   0
LDG Limited     750,000   21,607   21,607   0
Mainstay Convertible Fund     1,245,000   35,868   35,868   0
Mainstay VP Convertible Fund     515,000   14,837   14,837   0
Mariner LDC (4)     800,000   26,636   23,048   3,588
MFS Total Return Fund, a series of Trust V     2,000,000   57,620   57,620   0
New York Life Insurance Company (Post 82)     1,360,000   39,181   39,181   0
New York Life Insurance Company
(Pre 82)		     625,000   18,006   18,006   0
New York Life Separate Account #7     30,000   864   864   0
Onyx Fund Holdings, LDC     2,000,000   57,620   57,620   0
Pacific Life Insurance Company     500,000   14,405   14,405   0
Performance Capital Group LLC     500,000   14,405   14,405   0
Salomon Brothers Asset Management Inc. (5)     31,000,000   893,114   893,114   0
Silverback Master LTD     10,000,000   288,101   288,101   0
Sphinx Convertible Arbitrage Fund SPC     85,000   2,448   2,448   0
Sturgeon Limited (4)     1,193,000   39,932   34,370   5,562
Sunrise Partners Limited Partnership     18,000,000   519,282   518,582   700
Topanga XI     2,295,000   66,119   66,119   0
TQA Master Fund, Ltd.     2,000,000   57,620   57,620   0
TQA Master Plus Fund, Ltd.     1,000,000   28,810   28,810   0
UBS O'Connor LLC F/B/O O'Connor Global Convertible Arbitrage Master Limited     1,000,000   28,810   28,810   0
UBS Warburg LLC     200,000   5,762   5,762   0
Viacom Inc. Pension Plan Master Trust     9,000   259   259   0
Victory Capital Management (as Agent for the Victory Convertible Fund)     950,000   27,369   27,369   0
Wolverine Asset Management, LLC.     2,705,000   77,931   77,931   0
Zurich Institutional Benchmarks Master Fund, Ltd.     538,000   15,499   15,499   0
                   

Zurich Institutional Benchmarks Master Fund, Ltd. c/o TQA Investors, LLC     750,000   21,607   21,607   0
(1)
The total amount set forth in this column currently exceeds $190,000,000 because the selling securityholders listed in the above table may have sold or transferred, in transactions exempt from the registration requirements of the Securities Act, some or all of their notes since the date on which the information in the above table was provided to us. Information about the selling securityholders may change over time. We prepared this table based on the information supplied to us by the selling securityholders named in the table and we have not sought to verify such information.

(2)
Includes common stock into which the notes are convertible.

(3)
Assumes a conversion price of $34.71 per share and a cash payment in lieu of any fractional interest.

(4)
Shares of common stock beneficially owned include shares issuable upon the exchange of NFC's 4.75% subordinated exchangeable notes due 2009 at an initial exchange price of $55.73 per share, subject to adjustment in certain circumstances.

(5)
Salomon Brothers Asset Management Inc. ("SABM") acts as discretionary investment adviser with respect to the following accounts that hold notes (with the aggregate principal amount of notes held shown in parentheses): Citi Cap Arb Fund ($1,470,000), Diversified Arb Fund ($4,608,000), Enhanced Arb Fund ($1,521,000), Multi Strat Arb Fund ($18,638,000), Market Neutral Arb Fund ($2,018,000), General Motors—Pension ($784,000) and General Motors—Veba ($1,961,000). Accordingly, SABM may be deemed to be the beneficial owner of the notes.

The date of this prospectus supplement is August 26, 2004.



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