Paccar Inc. said its third-quarter truck production will be 15% to 20% lower than the second quarter, “reflecting build-rate adjustments in North America and the normal two-week summer shutdown in Europe.”
Paccar made the comment in its regular quarterly dividend statement released late Tuesday.
Paccar is the parent company of U.S. truck companies Peterbilt Motors Co. and Kenworth Truck Co., and Europe-based DAF Trucks.
Overall new industry heavy-duty truck orders fell 23.4% in August from a year ago, though they topped 16,000 and were up from July, according to figures from ACT Research Co.