* Washington - Paccar sales slow, but demand for big trucks remains strong
--- The Bellevue-based truck maker Paccar posted strong but slower sales in the first quarter — with U.S. demand dipping and European demand picking up for its DAF trucks. Paccar reported first quarter revenue of $4.3 billion compared to $4.83 billion a year ago... It has manufacturing and distribution facilities in Renton, USA ... The company also reported a loss of $594.6 million during the quarter, in large part due to a non-recurring charge of $942.6 million due to the European Commission’s investigation of all European truck manufacturers... In Europe, Paccar saw a bump of sales of its DAF trucks, which are in the above 16-ton market... Its DAF trucks are the market share leader in that category in the United Kingdom, the Netherlands, Hungary and Poland... Paccar’s European sales offset a dip in trucks sold in the U.S. and Canada, where the majority of Paccar’s sales occur. Paccar delivered 18,500 new trucks compared to 24,400 last year. Sales dropped to $2.59 billion from nearly $2.3 billion during the same quarter a year ago. Going forward, Paccar Executive Vice President, Gary Moore, said he expects demand for sales of new Class 8 trucks — the category that its Kenworth and Peterbilt trucks fall into — to be the third-highest in the past 10 years, thanks to the continued strong economy and steady freight demand...
(Photo: Paccar manufacturing and distribution facilities in Renton) -- Bellevue, WASH, USA -- Puget Sound Business Journal - Apr 26, 2016Labels: truckmakers news USA
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