Paccar’s Second-Quarter Profit Dips

Paccar Inc. said Tuesday its second-quarter profit dipped from a year ago but cited “gradually improving truck sales and strong aftermarket parts.”

Net income slipped to $291.6 million, or 82 cents a share, from $297.2 million, or 83 cents, a year ago.

Sales and financial services revenue declined to $4.3 billion from $4.5 billion, Bellevue, Wash.-based Paccar said in a statement.

Paccar is the parent company of Kenworth Truck Co., Peterbilt Motors Co. and Europe-based DAF trucks.

“Class 8 industry retail sales for the U.S. and Canada in 2013 are expected to be in the range of 210,000 to 230,000 vehicles,” Executive Vice President Dan Sobic said in a statement.

“Truck demand is being driven primarily by the ongoing replacement of the aging truck population and an improving housing sector. The truck market should benefit from projected economic expansion in the remainder of the year, particularly growth in auto production and construction activity,” Sobic said.