Member access

4-Traders Homepage  >  Shares  >  Nasdaq  >  PACCAR Inc    PCAR   US6937181088

PACCAR INC (PCAR)

9
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

PACCAR Inc : Paccar Makes Further Trims to 3Q Truck Production Forecast

09/12/2012 | 03:41am US/Eastern

By Bob Tita

Paccar Inc. (PCAR) expects third-quarter production of its commercial trucks to be lower than previously forecast, providing fresh evidence that demand for trucks in the U.S. is likely to remain weak into the fall.

The maker of Kenworth and Peterbilt-brand trucks said late Tuesday that truck production will be 15% to 20% below the second-quarter's production level. The Bellevue, Wash., company previously predicted a 10% decline in production from the second quarter.

"Industry orders for new trucks in North America have slowed in recent months, as customers evaluate the mixed signals of a sluggish economic recovery," said Executive Vice President Bob Christensen in a statement released with a quarterly dividend announcement.

Analysts said Paccar's cutback wasn't entirely surprising given that industrywide orders for trucks in North America have declined every month this year so far compared with the same period in 2011.

"What remains to be seen is whether industry orders pick up again after the summer or whether further cuts to production need to be made in 2013," said J.P. Morgan analyst Ann Duignan in a note to investors early Wednesday.

After a prolonged slump in North American truck sales stretching from 2007 through 2010, the rebound in the truck market has been shallower than expected and began losing steam at the end of last year. Paccar faces the added pressure of a weak truck market in Europe where the company builds DAF-branded commercial trucks. Demand for trucks in Europe this year has suffered from stalled economic growth brought on by the sovereign debt crisis.

Paccar closed Tuesday's regular trading session in New York up 0.43% at $41.71 a share.

Write to Bob Tita at robert.tita@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

React to this article
Latest news on PACCAR INC
03/25 PACCAR : Peterbilt Introduces Model 567 Set-Forward Front Axle Configuration
03/25 PACCAR : Peterbilt Model 579 to Get New 58-Inch Sleeper
03/25 PACCAR : Improved Productivity, Safety and Convenience Features on Peterbilt&rsq..
03/25 PACCAR : Peterbilt Launches Medium-Duty CNG Vehicle Platform
03/25 PACCAR : Peterbilt Models 579, 567 Now Available with LNG Power
03/25 PACCAR : Peterbilt Expands Premium Interiors with Platinum Graphite Package
03/25 PACCAR : Model 579 EPIQ, PACCAR MX-13 Engine: Peterbilt Showcases Double-Digit F..
03/25 PACCAR : Ready for the Road Ahead: Peterbilt Debuts New Predictive Cruise Techno..
03/25 PACCAR : Maximizing Uptime: Peterbilt Launches SmartLINQ Remote Diagnostics
03/25 PACCAR : Kenworth T880 – ATD Commercial Truck of Year
Advertisement
Chart
Duration : Period :
PACCAR Inc Technical Analysis Chart | PCAR | US6937181088 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF