The renowned truck trader and manufacturer PACCAR has revealed a upsurge in total revenue in the second quarter in comparison to the second quarter of 2009. The 2010 figures saw a total company revenue of $2464.1 million, a 33.3% increase on the $1848.9 million reported this time last year. The truck sector of PACCAR, primarily new and used DAF trucks, showed a healthy increase, with a total pre-tax income in the second quarter of $110.3 million, compared to only $7.4 million in 2009's second quarter.The net income of PACCAR in the second quarter was $99.6 million, a sturdy increase compared to $26.5 million in the previous year. The end of quarter two saw them report total marketable securities and cash liquidity of $2.12 billion.
Mark C Pigott, the chairman and chief executive officer of PACCAR, said:
Paccar reported improved revenues and net income for the second quarter of 2010. Against a backdrop of global truck markets that are only gradually emerging from historically low levels, Paccar’s results reflect the benefits of higher truck and parts sales and improving financial services profits worldwide. Our customers are benefiting from increased freight tonnage, which has resulted in higher fleet utilisation rates, resulting in positive gains for our aftermarket parts sales. The US and Canadian truck market is gradually adjusting to higher priced vehicles resulting from the EPA 2010 emissions change. The European truck market is still lagging behind last year’s volumes, but DAF achieved a significant increase in market share, which has delivered improved financial results.
This comment has been removed by the author.
ReplyDelete