Profile: PACCAR is a global technology leader in the design, manufacture, and customer support of premium light-medium- and heavy-duty trucks under the following names:
• Kenworth Truck Company: builds premium commercial vehicles for sale in the U.S., Canada, Mexico, and Australia and for export throughout the world.
• Peterbilt Motors: designs, manufactures, and distributes premium commercial vehicles in the US and Canada.
• DAF Trucks: manufactures trucks in the Netherlands, Belgium, Brazil, and the United Kingdom for sale throughout Western and Eastern Europe, and export to Asia, Africa, North and South America.
The company also designs and manufactures advanced diesel engines, provides financial services (provides finance, lease, and insurance services to dealers and customers in 24 countries including a portfolio of more than 180,000 trucks and trailers and total assets in excess of $13 billion), information technology, and distributes truck parts related to its principal business.
PACCAR has an extensive dealer network of 2,200 locations, with which they deliver their products and services to customers worldwide. PACCAR sells the company’s products in more than 100 countries, approximately half of PACCAR’s revenues and profits are generated outside the United States.
History: In 1905, William Pigott, Sr. founded Seattle Car Mfg. Co. to produce railway and logging equipment in West Seattle. The Company later merged with Twohy Brothers of Portland to become Pacific Car and Foundry Company. In 1924, William Pigott sold control of the Company to American Car and Foundry Company.
In 1972, the company’s name was changed from Pacific Car and Foundry Company to its current name, PACCAR Inc.
Top Executives: Mr. Preston R. Feight is the Chief Executive Officer & Director and Mr. Harrie C. A. M. Schippers is the President & Chief Financial Officer.
Top Shareholders: The Vanguard Group, Inc. has a 7.38% stake in the company and Capital Research & Management Co. (World Investors) has 5.52%. Institutional investors purchased a net $2.9 million shares of PCAR during the quarter ended June 2019 and now own 64.27% of the total shares outstanding.
Sales: PACCAR reported $18.73 billion in revenue for 2020, compared to $25.60 billion in all of 2019. The company’s revenue for the fourth quarter was $5.57 billion down from $6.12 billion in the prior-year quarter. Stock does not trade in the Indian stock markets.
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