COMMENT: Paccar results suggest Europe and North America topping expectations

Further evidence that both the European and the North American truck markets are outperforming previous expectations has emerged following Paccar’s release of its second quarter earnings.

Paccar posted combined revenues (Truck and Parts plus Financial Services) of US$4.7bn. The truck segment accounted for US$3.6bn in revenue, Parts sales  came in at US$823m while Financial Services contributed US$306m to the overall total, which resulted in net income for the quarter of US$373m. Gross margin in the Truck and Parts segment amounted to 14.6%.