News

DAF’s parent firm PACCAR has announced its financial results for 2006 – another record year, and its 68th consecutive year in profit.

Sales reached $16.45 billion (£8.4bn), up by 17% over 2005, while net income (profit) was up by 32% at $1.496bn (£763m). The firm delivered 166,800 commercial vehicles worldwide, while PACCAR Financial Services increased its revenue by 25% to $950.8 million (£485m).

The firm also bought back $302m in its own stock; its compound annual growth rate  (CAGR) over the last ten years has been 13.6% in revenue and 22.2% in net income.

• PACCAR has announced that it will introduce diesel-electric hybrid technology in its medium-duty vehicles during 2008, estimating that it can deliver 30% better fuel economy. It will also introduce on-board energy management systems for road vehicles from this year.