Paccar

PACCAR Inc. stands as a global technology leader in the commercial vehicle industry, designing, manufacturing, and providing customer support for premium-quality trucks under its iconic Kenworth, Peterbilt, and DAF brands. Founded in 1905 as a steel foundry in Bellevue, Washington by William Pigott, the company has evolved over 120 years into one of the world's most respected commercial vehicle manufacturers, earning its 86th consecutive year of net income in 2024.

The company's business model demonstrates exceptional revenue diversification, with 74% coming from truck manufacturing and other segments ($24.8 billion), 20% from its highly profitable aftermarket Parts division ($6.7 billion), and 6% from Financial Services ($2.1 billion). This diversified approach provides stability across economic cycles and reinforces PACCAR's market position as a premium manufacturer focused on quality, innovation, and customer service.

PACCAR's 2024 financial results were the second-best in company history, achieving revenues of $33.66 billion and earnings of $4.16 billion with an impressive after-tax return on revenues of 12.4%. The company delivered 185,300 vehicles worldwide in 2024, with Kenworth and Peterbilt achieving an excellent 30.7% U.S. and Canada Class 8 retail sales market share. PACCAR Parts set record revenue of $6.67 billion with record pretax income of $1.71 billion, demonstrating the strength of the company's aftermarket business.

Looking forward, PACCAR is strategically investing $700-$800 million in capital projects and $460-$500 million in research and development in 2025, with particular focus on electric vehicle technology and autonomous driving capabilities. The company launched Amplify Cell Technologies, its U.S. battery manufacturing joint venture with Daimler Truck and Accelera by Cummins, representing a $2-3 billion investment in localizing battery production. PACCAR is also expanding its hydrogen fuel cell technology partnership with Toyota, having received over 150 paid deposits for Kenworth and Peterbilt fuel cell electric vehicles (FCEVs) with customer deliveries commencing in 2025. With manufacturing facilities across Europe, the United States, Mexico, Brazil, and Australia, PACCAR continues to strengthen its global footprint while maintaining its commitment to environmental responsibility, innovation, and premium product quality that has defined the company for over a century.