USA -“Paccar reported record annual revenues and profitability in 2018 and has achieved an impressive 80 consecutive years of net income,” said Ron Armstrong, chief executive officer of Paccar Inc, the Bellevue, Washington State-headquartered truck builder under the Peterbilt, Kenworth and DAF Trucks brands. “Paccar’s financial results,” his statement continued, “reflect the company’s premium-quality products and services, a record heavy-duty truck market share in Europe, strong global truck markets, and record aftermarket parts results. I am very proud of our 28,000 employees who have delivered outstanding products and services to our customers. Strong GDP, industrial production and consumer spending growth in 2018 resulted in record freight tonnage, high fleet capacity utilization and record Kenworth and Peterbilt truck orders, deliveries and backlog.”

He forecast: “The North American and European economies are projected to continue growing in 2019. Our customers are very profitable and benefiting from strong freight demand. Freight activity grew 6.6% percent in the U.S. in 2018, the highest growth in 20 years. Kenworth’s and Peterbilt’s 2019 build schedules are substantially full due to the robust orders. We expect 2019 to be another excellent year for Paccar.”