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FleetPride, a private equity-owned major supplier of aftermarket truck parts, held on to its...
Paccar charged 15% more for a new truck than a year ago, a driving force behind a surge in second-quarter profits.
But inflation-driven pricing is only part of the story of a record 70% increase in Q2 profitability.
The Bellevue, Washington-based parent of Kenworth, Peterbilt and DAF Trucks charged customers substantially more for new equipment than the roughly 9% increase it paid to build a truck.
“We expect [gross profit] margins of 18-19% in Q3. That’s a testament of how we see the price/cost...
https://www.freightwaves.com/news/truck-and-parts-price-hikes-propel-paccars-q2-profit-surge
Paccar Inc. posted record Q1 sales and earnings, increasing production despite stubborn supply chain disruptions. The company reaped benefits from a practically all-new lineup of medium- and heavy-duty trucks introduced over the last year.
“Paccar’s investments in vehicle, powertrain and technology initiatives are delivering increased profitability,” CEO Preston Feight said in a press release.
First-quarter 2022 sales increased to $6.47 billion compared to $5.85 billion in the first quarter of...
https://www.freightwaves.com/news/truck-manufacturer-paccar-knocks-q1-financials-out-of-the-park
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PACCAR Inc. (NASDAQ: PCAR) set a record for sales of truck parts in the first quarter, suggesting that an industry backlog constrained by supply chain shortages is prompting truck owners to hold on to their older equipment longer.
“Inventory is relatively tight right now,” PACCAR CEO Preston Feight said on the company earnings call Tuesday. “The industry is at 1.9 months. We’re at 1.7. I wouldn’t expect to see a lot of change in that given the demand that is out there. I think that inventory is...
https://www.freightwaves.com/news/flush-with-new-models-paccar-posts-strong-q1-numbers
Revenue from parts and service more than covered the Q1 operating cost of Rush Enterprises Inc.’s (NASDAQ: RUSHA) chain of truck and bus dealerships, offsetting lower Class 8 truck sales.
The 122.6% absorption rate was nearly double the percentage of most car and truck dealers. The calculation is based on how much of a dealership’s operating cost is absorbed by fixed operations like service, aftermarket parts and collision repairs.
Fixed operations accounted for approximately 63% of Rush’s gross...
https://s29755.pcdn.co/news/service-and-parts-carry-rush-enterprises-q1-earnings
This fireside chat recap is from Day 4 of FreightWaves Global Supply Chain Week. Day 4 focuses on automotive.
FIRESIDE CHAT TOPIC: Keeping parts moving online, in stores and through dealerships
DETAILS: Daimler Trucks North America relies on e-commerce, its dealerships, parts distribution centers and analytics to get truck parts to the right place as quickly as possible. Richard Simons oversees all of it.
SPEAKER: Richard Simons, general manager of parts sales and marketing for Daimler Trucks
BIO...
https://s29755.pcdn.co/news/gscw-chat-recap:-lessons-from-moving-parts-in-a-pandemic
In trucking, where uptime can be the difference between making or losing money, major truck manufacturers are rolling out digital tools to speed parts ordering, using an app to audibly guide repairs and even arranging to transport trucks needing service.
The one-day repair is a focus of all manufacturers who also are increasingly using over-the-air updates to reprogram sophisticated computer systems without the truck coming to a service center.
24-hour turnaround
Daimler Trucks North America...
https://s29755.pcdn.co/news/truck-makers-push-parts-online-and-speed-service
