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Paccar (parent company of OAF) saw revenues and profits decline
5th February 2009, Page 10
5th February 2009
Page 10
Page 10, 5th February 2009
— Paccar (parent company of OAF) saw revenues and profits decline
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in 2008 as the global recession affected truck buying across the world.
Truck sales fell from $3.4bn (£.2.4bn) to $2.6bn in the fourth quarter, while Paccar's income from financial revenues dropped from $327.3m to $292.2m. Income for the final quarter also fell from $261.1m to $113.1m.
Full-year figures do not look any more positive. with truck sales dropping by 2% to $13.7bn and income falling 17% to $1bn, but financial services revenues increased 5% to $1.2bn.