PACCAR delivers its 71st year of consecutive profits as DAF's MX engine hops across the pond. Biglorryblog has the full story!

Pigott goes on to say." Many of the world's economies are still in the middle of a challenging recession. Consumers are increasing their savings and reducing spending, which is healthy for economies in the long run; however, it has resulted in less freight year-on-year and lower demand for commercial vehicles. Many nations are faced with high unemployment and major catalysts for economic growth, such as home construction and car production, are at 30-50 year lows. The good news is that PACCAR has reinforced its position as one of the leading technology companies in the automotive sector. PACCAR is one of the few companies in the sector to deliver net income every year in the last decade. This outstanding performance has benefited our shareholders with a 19.1% annual return for the decade compared to the S&P annual return of negative 1.0%." 

"PACCAR's excellent balance sheet and strong operating cash flow of $1.37 billion in 2009 have enabled ongoing investments in capital projects such as new diesel engines, expanded vehicle ranges, annual factory efficiency improvement of 5-7% and contributed to earning the majority of the industry's quality awards," adds vice-chairman Tom Plimpton. "The company's strong performance places PACCAR in a leading position when the industry returns to a normal vehicle demand of 225,000-250,000 units in the U.S. and Canada as well as in Europe."  And for the full 2009 financial figures click on http://www.ukdistribute.com/links/1264772699126-PACCAR%20earnings%20-%20financials.pdf

PACCAR's two US brands are still providing formidable competitition to the rest of the pack. Together, Kenworth and Peterbilt achieved a strong combined 25.1% retail share of the U.S. and Canadian Class 8 market and a record 15.3% retail share of the Class 6-7 market in 2009. "Class 8 industry retail sales in the U.S. and Canada were 108,000 in 2009 compared to 153,000 in 2008, reflecting continued economic weakness, negatively impacted by high unemployment, lower housing starts and automobile production," reports PACCAR executive vice president Dan Sobic who adds. "The fourth quarter 2009 industry truck sales benefited from a modest prebuy due to the transition to 2010 engines. Industry truck retail sales in 2010 are expected to improve slightly due to the aging of the fleet and some general economic growth. The U.S. and Canadian Class 8 retail sales in 2010 are projected to be in the range of 110,000-140,000 units," says Sobic.
Meanwhile, across the pond PACCAR's cloggie conglomerate, AKA DAF, continues to spread its wings. Indeed, DAF boss Aad Goudriaan tells me: "Industry sales above 15-tonnes in Western and Central Europe were 168,000 units in 2009---and in 2009, DAF achieved a market share in the above 15-tonne market of 14.8%, the highest in its 81-year history. This achievement illustrates steady progress towards DAF's medium-term goal of 20 percent market share. The current challenging economic conditions are expected to continue into 2010, with the market for above 15-tonne vehicles estimated at 150,000-180,000 units." he notes.

And speaking of DAF, PACCAR has been promising to do it for a while but now it's officially announced that it will introduce the DAF 13-litre MX engine in the US (over there they'll call it the PACCAR MX) in Kenworth and Peterbilt trucks from this summer. According to PACCAR president Jim Cardillo the MX engine will meet the tough US EPA 2010 emission standard and that it has already "...accumulated over 50 million test miles in rigorous and severe conditions in North America. PACCAR is pleased to be launching this proven, industry-leading engine in Kenworth and Peterbilt trucks."

The DAF/PACCAR MX will be offered with ratings from 380hp-485hp and torque outputs up to 1,750 lb-ft. "This power range, combined with excellent fuel efficiency, high reliability, durability, lightweight design and low cost of ownership makes it an ideal choice for both over-the-road line-haul and vocational applications," says PACCAR. So is this another step towards integrated drivelines in the US?  You tell me....