* Oregon - Paccar’s 3Q profit rises 16% as truck deliveries climb
-- Paccar delivered 39,400 trucks between July and September, an almost 6 percent increase versus the third quarter of last year... Bellevue-based truck-maker Paccar reported a 16 percent increase in third-quarter earnings, boosted by increased truck sales in North America and Europe... Paccar delivered 39,400 trucks between July and September, an almost 6 percent increase versus the third quarter of last year. The biggest jump came from Europe, which saw deliveries jump 21 percent to 11,100 trucks... For the third quarter, Paccar reported a profit of $431.2 million, or $1.21 a share, up from $371.4 million, or $1.04 a share, in the same period the year before. This is the second-best quarter in the company’s 110-year history after last quarter’s record profit of $447.2 million... While truck deliveries were up and profit was higher, total revenue dropped 2 percent to $4.85 billion, compared with $4.93 billion last year. This was due to Europe’s growing market and the effect of foreign exchange rates... Paccar is one of several heavy- and medium-duty truck producers that the European Commission began investigating in January 2011. Last November the commission sent a “statement of objections” to each company, informing them of its suspicions of anti-competitive practices... The commission indicated that it will seek to impose significant fines on those manufacturers, but Paccar said Tuesday it is unable to estimate the potential fine at this time...
(Photo: Paccar's -Europe- DAF truck XF 105 model) -- Bellevue, ORE, USA - The Seattle Times, by Coral Garnick - October 27, 2015Labels: truckmakers news USA
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