Old PACCARs never die, they just get a new Peterbilt. PACCAR is one of the world's largest designers and manufacturers of big rig diesel trucks. Its lineup of light-, medium-, and heavy-duty trucks includes the Kenworth, Peterbilt, and DAF nameplates. The company also manufactures and distributes aftermarket truck parts for these brands. PACCAR's other products include Braden, Carco, and Gearmatic industrial winches. With the exception of a few company-owned branches, PACCAR's trucks and parts are sold through independent dealers. Its PACCAR Financial Services and PacLease subsidiaries offer financing and truck leasing, respectively.
The company owns manufacturing plants in five US states, three countries in Europe, and a facility in each of Australia, Canada, and Mexico. PACCAR Financial Services operates through three continents spanning around 20 countries.
In the European light/medium market, PACCAR competes with DAF cab-over-engine trucks assembled in the UK by Leyland. About 55% of PACCAR's revenues are generated outside the US.
PACCAR's balance sheet has made a milestone comeback after the painful effects of the recession. From 2010 to 2011, total revenue surged by almost 60%, toppling out at roughly $16.4 billion, the second-highest in the company's history. Net income also skyrocketed over 100% from $457 million to more than $1 billion.
The sizable growth was primarily due to a major uptick in truck segment income, which accounted for 93% of total 2011 revenues. Truck deliveries increased by over 100% in the US and 72% in Canada for 2011. Internationally, total sales increased in Australia, Mexico, and South America primarily due to higher new truck deliveries in Mexico and the Andean region of South America. Overall it sold 138,000 units in 2011, compared to 79,000 units in 2010. The company was also helped by record aftermarket parts sales.
PACCAR continues to examine business opportunities in Asia, with a primary focus on Brazil, China, and India. In 2011 it opened a new technical center in Pune, India focused on providing engineering, information technology and component sourcing services across the emerging region.
The company's strategy is also focused on building and releasing new aerodynamic vehicles to broaden its product line. In 2012 it launched the new Kenworth T680 and the Peterbilt Model 579 line of aerodynamic vehicles. – less
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