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Prime Mover Magazine

PACCAR achieves record revenues globally

PACCAR Group has delivered exceptional profits and record revenues for the second quarter of 2018.

The international automotive company reported a net income of $AU750 million, marking a 50 per cent improvement on the same period last year.

Net sales and financial service revenues improved 23 per cent resulting in a record of nearly $AU7.8 billion.

The quarterly results were a reflection of global truck demand, increasing PACCAR truck production and a robust global aftermarket in parts sales said Ron Armstrong, PACCAR CEO.

“I am very proud of our 27,000 employees who have delivered outstanding product and services to our customers,” he said.

In addition to this PACCAR Parts realised a record revenue of over $AU1.3 billion.

“The dramatic increase in net income reinforces PACCAR’s financial leadership and strongly positions the company as it invests in new vehicle platforms, technology,” noted Harrie Schippers, PACCAR president and chief financial officer.

Schippers said the results validate the company’s investment in new vehicle platforms, technology initiatives such as autonomous vehicles, alternative fuel systems and customer service programs.

Truck deliveries across its brands Kenworth, DAF and Peterbilt were up 18 per cent on the same period in 2017 in Australia, North America, Europe and Brazil.

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