PACCAR Keeps Truckin' Along
BELLEVUE, WA-Truck manufacturer PACCAR Inc. is continuing to post record sales in what is proving to one of the most successful years in its history. The company logged third-quarter sales and revenues of $4.21 billion, with sales and revenues of $12.23 billion thus far for the year.
"PACCAR Inc. achieved record revenues and net income for the third quarter and first 9 months of 2006," says company CEO, Mark C. Pigott. "PACCAR's balanced global diversification, complemented by steady GDP growth, successful new truck model introductions and double-digit revenue increases in the company's finance and aftermarket parts businesses, contributed to excellent operating performance."
According to Pigott, the current influx of cash is allowing the company to increase capital expenditures, which, in turn, makes it possible to further expand capacity, launch new products and expand market share. He predicts continued strong growth for the company in everything from manufacturing to financial services and aftermarket sales over the next 3 to 5 years.