Paccar posts 78th consecutive year of positive net income, boosts marketshare

Kenworth trucks parkedPaccar announced Friday fourth quarter 2016 net sales of $4.07 billion, down slightly from the $4.36 billion for the same time last year. For 2016, the company achieved revenues of $17.03 billion in compared to revenues of $19.12 billion in 2015, and posted its 78th consecutive year of positive net income.

“Paccar is well-positioned for long-term growth with investments in new state-of-the-art DAF, Kenworth and Peterbilt vehicles, durable PACCAR engines, innovative aftermarket parts and service capabilities, factory enhancements, and truck technologies that increase vehicle fuel-efficiency and reliability,” says Ron Armstrong, Paccar chief executive officer.

Last year, Paccar delivered 140,900 vehicles worldwide and Kenworth and Peterbilt achieved Class 8 retail market share of 28.5 percent in the U.S. and Canada, up from 27.4 percent in 2015. Paccar’s Q4 Class 8 retail market share was 30.4 percent in the U.S. and Canada.

Paccar executive vice president Gary Moore notes Class 8 truck industry retail sales in the U.S. and Canada were 216,000 units in 2016, compared to 278,000 vehicles in 2015. Estimates for U.S. and Canada Class 8 truck industry retail sales in 2017 are in the range of 190,000-220,000 trucks.

Paccar says it has installed more than 130,000 MX-13 and MX-11 engines in Kenworth and Peterbilt trucks in North America since the Mississippi engine factory began production in mid-2010. In the fourth quarter of 2016, the MX-13 and MX-11 engines were installed in 47 percent of Kenworth and Peterbilt heavy-duty trucks in the U.S. and Canada.