PACCAR reported strong revenues and net income for the fourth quarter of 2011 and achieved its 73rd consecutive year of net profit. PACCAR’s fourth quarter revenues of $4.85 billion were the highest quarterly revenues in company history,” said Mark Pigott, chairman and chief executive officer.

“PACCAR’s 2011 financial results reflect the company’s premium-quality products and services, the benefits of geographic diversification, growing financial services and aftermarket business and environmental leadership. I am very proud of our 23,400 employees who have delivered outstanding industry-leading products and services.”
 
“Class 8 industry retail sales in the U.S. and Canada improved to 197,000 units in 2011 compared to 126,000 in 2010, a 56% increase,” said Dan Sobic, PACCAR executive vice president. “Our customers are benefiting from higher freight tonnage and improved freight rates.
 
In 2011, PACCAR achieved a record Class 8 retail market share in the U.S. and Canada of 28.1%. Industry retail sales in 2012 are expected to increase to a range of 210,000-240,000 vehicles, driven primarily by ongoing replacement of the aging truck population. Annual replacement demand for the U.S. and Canadian truck market is estimated to be approximately 225,000 units,” added Sobic.

 “We are pleased that our vehicles achieved record share in the above 15-ton market in Europe and Class 8 market in North America. It is expected that the truck market in the U.S. and Canada will further improve in 2012. Ongoing economic uncertainties in Europe have resulted in lower Eurozone industry truck orders in recent months,” said Pigott.