OEM quarterly round-up
The third quarter of 2013 came to a close in September, and most trucking OEMs posted their quarterly profits late last month.
Paccar Inc., makers of Kenworth and Peterbilt trucks, reported a 32 percent rise in quarterly profit on the strength of higher North American truck sales.
Net income rose to $309.4 million in the third quarter, up from $233.6 million the year before.
For full details from Paccar, click HERE.
The makers of Freightliner and Western Star trucks – Daimler AG – reported “significantly improved” third quarter earnings.
The company posted a 53.2 percent increase in profit and a 4 percent increase in sales in its truck unit compared to last year. Daimler Trucks says it moved 124,500 units in the third quarter.
For full details from Daimler, click HERE.
Volvo, the world’s second largest truck maker, reported a drop in third quarter profit, thanks in part to currency exchange rates and massive global product refreshening project.
In North America, Volvo Group – makers of Volvo and Mack branded trucks – delivered 11,072 trucks in the last three months, compared to 10,659 in the same period the year before. In the first nine months of the year, the group has delivered 31,982 trucks, lagging behind the 37,329 units through September 2012.
For full details from Volvo, click HERE.
Navistar International, which operates on a different quarterly cycle than its peers, reported third quarter earnings in September.
The company announced a third quarter 2013 net loss of $247 million, down significantly from the third quarter 2012 net income of $84 million.
Navistar Chief Operating Officer Jack Allen says the company’s goal is to get its marketshare back to historical levels of 20-plus percent, and the company’s third quarter performance show they are trending in the right direction.
“Truck orders are a blend of dealer and customer orders for near-term fulfillment,” he adds. “There’s little dealer stock on the Class 8 side. It’s sold-order driven. We’re certainly not declaring victory but we’re encouraged by the repeat business.”
For full details from Navistar, click HERE.