Paccar News Updates

Paccar Parts, a unit of Paccar Inc., said it opened a new 160,000 square-foot parts distribution center in Renton, Washington, that is almost three times the capacity of its predecessor built in 1973. It will service dealers in the Northwestern U.S. and Western Canada.

Paccar Inc. reported a $594.6 million, or $1.69, loss in the first quarter, tied to a charge for expected penalties relating to a European price-fixing investigation.

Paccar Inc. has decided to set aside $945 million for costs related to a wide-ranging European truck price-fixing investigation.

Paccar Inc., the parent company of U.S. truck makers Kenworth Truck Co. and Peterbilt Motors Co. and DAF Trucks in Europe, said it achieved record annual revenues of $19.12 billion and record net income of $1.60 billion, an 8.4% after-tax return on revenues, for 2015.

Peterbilt will soon offer Paccar’s MX-11 engine, which debuted in Europe in 2013 and was only made available earlier this month in the United States.

Paccar introduced its MX-11 engine to the North American market after installing more than 10,000 in Europe since 2013.

Petroleum and chemical tank carrier Kenan Advantage Group purchased the 100,000th MX-13 engine made by Paccar Inc., the manufacturer said Aug. 21.

Paccar Inc. reported a record profit in the second quarter as truck sales continued to rise in North America and Europe.

Paccar Inc. is raising its dividend 9%, or 2 cents per share, to 24 cents, reflecting its recent improvement in earnings.

Paccar Inc. reported first-quarter income rose 38% from a year go on higher truck sales, and the company predicted higher industrywide U.S. and Canadian heavy-duty truck sales for this year.