Paccar Earnings: Weak Class 8 Truck Sales Likely Near a Trough

Paccar’s fourth-quarter truck, parts, and other revenue fell approximately 14% year over year to $7.4 billion. For full-year 2024, it was down 5% to $31.6 billion, capping off a sluggish year in the wake of three consecutive years with 20%-plus growth. We attribute the slowdown primarily to the US truckload industry pullback and resulting normalization in new heavy-duty truck orders.