PACCAR powers on

PACCAR has come out swinging in North America this year, the company recording significant growth in both net income and net sales and revenue for the first quarter.

The company posted net income of $US378.4 million ($A486.9 million) over the quarter, representing growth of 38 per cent over the previous corresponding period, and net sales and revenue of $4.38 billion ($A5.64 billion) – an increase of 10 per cent over the first quarter of 2014.

PACCAR's Chief Executive Officer, Ron Armstrong, said the results are in line with the steady improvement seen throughout the North American trucking industry.

"PACCAR's truck segment results improved compared to last year, reflecting the benefits of stronger industry truck sales in North America," he said in a media statement.

"PACCAR generated excellent aftermarket sales and financial services results. I am very proud of our 23,000 employees, who have delivered industry leading products and services to our customers worldwide."

Mr Armstrong went on to say the company's robust financial position had allowed it to continue its extensive program of investment.

"PACCAR's strong balance sheet and positive cash flow have enabled the company to invest over $US3.1 billion ($A4.0 billion) in new products and services in the last five years," he said.

"We are pleased that the Kenworth T880 truck with the PACCAR MX-13 engine was honoured as the 2015 Commercial Truck of the Year by the American Truck Dealers.

"New Kenworth, Peterbilt and DAF vehicles and investments in PACCAR engines and aftermarket sales and support are contributing to the company's long-term growth."

PACCAR says it anticipates heavy-duty (Class 8) truck sales in the order of between 260,000 to 290,000 vehicles in North America in 2015, compared to 250,000 in 2014.

DAF President and PACCAR Vice President, Harrie Schippers, said the outlook was improving in Europe, too.

"The truck market in Europe is rebounding this year as industry sales in and above the 16-tonne truck market are estimated to be in the range of 220,000 to 250,000.