Paccar Investor Relations Material

PACCAR Inc. is an American company with multinational operations that designs and manufactures commercial trucks and equipment. This is done through three different subsidiaries: DAF, Kenworth, and Peterbilt. Besides its main operations within truck manufacturing, the company also distributes parts, various types of equipment, and financial services related to its principal business. The company is headquartered in Bellevue, Washington and its shares are listed on the Nasdaq.

PACCAR's journey began in 1905 as the Seattle Car Manufacturing Company, founded by William Pigott Sr., specializing in railway and logging equipment. In 1928, it merged with Twohy Brothers to form the Pacific Car and Foundry Company, which enabled them to produce a broader range of products beyond rail cars, including trucks and truck parts. The transformation into a major player in the automotive and trucking industry began in the 1940s and 1950s with the acquisition of Kenworth and Peterbilt, two iconic names in truck manufacturing.

These acquisitions marked a significant shift towards specializing in heavy-duty trucks, and in 1972 the company rebranded to PACCAR. Over the years, PACCAR expanded globally while continuing to make acquisitions. Notably, it acquired the Netherlands-based DAF Trucks in 1996, allowing it to truly compete in Europe. Today, the company is one of the largest truck manufacturers in the world, together with names such as Volvo, Daimler, TATA, and several others.

PACCAR manufactures a wide variety of trucks through its subsidiaries Kenworth, Peterbilt, and DAF, each catering to different segments of the trucking market. Kenworth and Peterbilt are predominantly recognized for their heavy-duty trucks in North America, serving sectors like long-haul transportation, regional distribution, construction, and logging.

DAF, primarily operating in Europe, offers a range of trucks that include light, medium, and heavy-duty models. These trucks are tailored for different purposes, such as urban delivery, long-distance transport, and various industrial applications. Over the years, DAF has proven to be an important subsidiary in order to compete in the highly competitive European market.