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

PROSPECTUS SUPPLEMENT NO. 1 DATED JUNE 20, 2003
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
                       
Delta Air Lines Master Trust (c/o Oaktree Capital Management, LLC)     890,000     25,641     25,641   0
Delta Pilots D & S Trust (c/o Oaktree Capital Management, LLC)     590,000     16,997     16,997   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
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
Microsoft Corporation     1,610,000     46,384     46,384   0
Motion Picture Industry Health Plan—Active Member Fund     290,000     8,354     8,354   0
Motion Picture Industry Health Plan—Retiree Member Fund     180,000     5,185     5,185   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
OCM Convertible Trust     2,905,000     83,693     83,693   0
Onyx Fund Holdings, LDC     2,000,000     57,620     57,620   0
Pacific Life Insurance Company     500,000     14,405     14,405   0
Partner Reinsurance Company Ltd.     940,000     27,081     27,081   0
Qwest Occupational Health Trust     340,000     9,795     9,795   0
S.A.C. Capital Associates, LLC     1,500,000     559,415     43,215   516,200
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
State Employees' Retirement Fund of the State of Delaware     1,245,000     35,868     35,868   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
Vanguard Convertible Securities Fund, Inc.     7,295,000     210,169     210,169   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 June 20, 2003.



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