Paccar’s 3Q Income Steady
Heavy-duty truck maker Paccar Inc. said its third-quarter profit about matched that of the same quarter a year ago, as it earned $299 million, or 82 cents a share, compared with $302.3 million, or 81 cents, a year ago.
Net sales and financial services revenue totaled $4 billion, which included $3.68 billion in truck-related revenue, the company said Tuesday.
“Declining housing starts and auto production have impacted U.S. and Canadian Class 8 truck sales throughout 2008,” Executive Vice President Dan Sobic said in a statement.
Truck sales are expected to be about 150,000 vehicles this year and to improve slightly in the second half of 2009, in the range of 170,000 to 210,000, as fleets replace vehicles after several years of lower purchases, he said in a statement.
Paccar is the parent company of U.S. truck makers Kenworth Truck Co. and Peterbilt Motors Co., and Europe-based DAF Trucks.
