PACCAR reported healthy second-quarter profits
2014-07-30
On 29 July 2014 PACCAR reported increased sales and net profits for the second quarter. ‘PACCAR’s healthy profit comes thanks to improved truck sales in the US and Canada as well as a strong global after-sales market. I’m very proud of our 22,600 employees, who have delivered outstanding results for our shareholders and customers,’ says PACCAR CEO Ron Armstrong.
PACCAR’s second-quarter profit came in at USD 319.2 million – a 9% increase compared with USD 291.6 million during the same period in 2013. Second-quarter sales were USD 4.57 billion – a 6% increase compared with 2013. During the first six months of 2014, PACCAR was able to report a net profit of USD 593.1 million, which is an increase of 12%. Sales for the first six months of 2014 totalled USD 8.95 million, which is 9% higher than at the same point in the previous year.
PACCAR’s strong balance sheet and positive cash flow have enabled the company to invest over USD 2.1 billion in new products and services over the last three years. During the second quarter of 2014, DAF introduced a new series of Euro 6 CF and XF four-axle trucks and tractor units for heavy-duty applications. In the second quarter Kenworth and Peterbilt also launched new medium-duty distribution trucks with extensive external and internal improvements. The Kenworth K270 and K370 and Peterbilt 220 have been designed with an improved turning radius and shorter overall length. These new vehicles will contribute to long-term global growth.
PACCAR Parts
PACCAR Parts (PACCAR’s spare parts programme) generated record sales of USD 778 million during the second quarter of 2014 – an increase of 10% compared with the same period in 2013. In the first six months of the year, PACCAR Parts’ sales rose by 9% to USD 1.5 billion compared with the same period in the previous year.
PACCAR’s 16 distribution centres supply more than 2,000 DAF, Kenworth and Peterbilt resellers and deliver industry-leading customer service. PACCAR Parts and TRP (a spare parts programme developed by PACCAR Parts that includes spare parts for trucks, trailers and semi-trailers) have made considerable contributions to PACCAR’s growth in the after-sales market.
More information:
Nicolina Ruff, marketing manager, e-mail: nicolina.ruff@Nordictruckcenter.se
Nordic Truckcenter AB
Tel: +46 (0)433-512 402
Mobile: +46(0)70 776 3738
www.nordictruckcenter.com
About Nordic Truckcenter AB
Nordic Truckcenter AB is a wholly owned subsidiary of Nordic Trucks in Holland and is the general agent for DAF Trucks in Sweden. The company has a servicing department with its own independent workshops around the country. The DAF brand is expanding rapidly in Sweden. Together with the truck brands Kenworth and Peterbilt, DAF are part of the American PACCAR Group.