PACCAR (PCAR) Lower; CEO Says U.S., Canadian Orders Lower YTD
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PACCAR Inc’s (Nasdaq: PCAR) shares are lower following comments from CEO Mark Pigott on the trucking industry.
According to a release Tuesday: "The United States and Canadian Class 8 truck industry orders year-to-date are lower reflecting a weak economic recovery. Peterbilt and Kenworth have increased their retail sales market share to 29.8% and have begun production of their new vehicles introduced at the Mid-America Truck Show in March. DAF has also increased its market share to 16.0%, even though the European truck market is slowing. In terms of global expansion, construction of the new DAF truck factory in Brasil is progressing and will provide excellent long-term opportunities for PACCAR."
Shares are 1 percent lower.
According to a release Tuesday: "The United States and Canadian Class 8 truck industry orders year-to-date are lower reflecting a weak economic recovery. Peterbilt and Kenworth have increased their retail sales market share to 29.8% and have begun production of their new vehicles introduced at the Mid-America Truck Show in March. DAF has also increased its market share to 16.0%, even though the European truck market is slowing. In terms of global expansion, construction of the new DAF truck factory in Brasil is progressing and will provide excellent long-term opportunities for PACCAR."
Shares are 1 percent lower.
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