Transport Topics Online  
The Newspaper of Trucking and Freight Transportation
Welcome  Guest  Log In         
4/23/2013 11:00:00 AM Write a Letter to the Editor Write a letter to the Editor

Paccar’s 1Q Profit Declines

Kenworth Truck Co.

Paccar Inc. said Tuesday its first-quarter profit declined from a year ago and its revenue fell, due to slower economic growth.

Net income fell to $236.1 million, or 67 cents a share, from $327.3 million, or 91 cents, a year ago.

Sales and financial services revenue fell to $3.92 billion from $4.78 billion in the previous first quarter, Bellevue, Wash.-based Paccar said in a statement.

“Class 8 industry retail sales for the U.S. and Canada in 2013 are expected to be in a range of 210,000 to 240,000 vehicles, compared to the 225,000 vehicles sold in 2012, driven primarily by the ongoing replacement of the aging truck population, and projected economic growth in the second half,” said Dan Sobic, Paccar’s executive vice president.

Sobic said that the truck market should benefit from improvements in job growth and auto production, as well as increased housing starts and construction activity.

Paccar, the parent company of Kenworth Truck Co., Peterbilt Motors Co. and Europe-based DAF trucks said the recent launch of several trucks, including the Kenworth T880 and Peterbilt Model 567, will contribute to the company’s long-term growth.

By Transport Topics

Follow Transport Topics on Subscribe to get up to the minute news briefs and more from our feeds. RSS Twitter Twitter Facebook Facebook

© 2013, Transport Topics, American Trucking Associations Inc.
Reproduction, redistribution, display or rebroadcast by any means without written permission is prohibited.



Follow Us


This free daily newsletter delivers the latest headlines.

TT Executive Suite
This subscriber-only newsletter program tailors your news.



© American Trucking Associations, Inc., All Rights Reserved Privacy Statement