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Company Overview
About Paccar
PACCAR Inc. is a Bellevue, Washington-based premium commercial truck manufacturer — publicly traded on NASDAQ (NASDAQ: PCAR) as an S&P 500 Industrials component — designing and manufacturing heavy and medium-duty trucks under the Kenworth (North America), Peterbilt (North America), and DAF (Europe) brands through manufacturing facilities in the US, Netherlands, UK, Mexico, Brazil, and Australia, reporting $33.66 billion in 2024 revenue (second-best in company history), $4.16 billion in earnings, and its 86th consecutive year of net income. Founded in 1905 by William Pigott as a steel foundry and evolving through Seattle Car Manufacturing, Pacific Car and Foundry, and ultimately PACCAR, the company has built one of the most respected brands in long-haul trucking. In 2024, Kenworth and Peterbilt combined for 30.7% US and Canadian Class 8 heavy truck retail sales market share, with 185,300 vehicles delivered globally. PACCAR Parts (aftermarket parts distribution) set records with $6.67 billion in revenue and $1.71 billion in pretax income, demonstrating the high-margin recurring revenue stream from servicing the installed base of 1+ million PACCAR trucks. For 2025, PACCAR planned $700-800 million in capital projects and $460-500 million in R&D investment, targeting electric vehicle commercial production, hydrogen fuel cell truck delivery, and autonomous driving technology development. The Amplify Cell Technologies joint venture (with Daimler Truck and Accelera by Cummins, $2-3 billion investment) localizes battery cell manufacturing for electric Class 8 trucks in the US.
Business Model & Competitive Advantage
PACCAR's premium commercial truck model addresses the total cost of ownership calculation that fleet operators make when selecting heavy-duty trucks for 1,000,000+ mile lifecycles: a truckload carrier operating 500 Kenworth T680 tractors on transcontinental routes calculates driver comfort (Kenworth's aerodynamic cab design reduces fatigue on 10-hour overnight runs), fuel efficiency (PACCAR MX engine EPA SmartWay certification), parts availability (PACCAR TRP stores at 18,000 dealer locations versus OEM-only dealer networks), and resale value (Kenworth and Peterbilt command premium used truck prices relative to Freightliner and International) across a 10-year, 1M+ mile lifecycle. PACCAR's 20%+ after-tax return on equity (exceptional for a capital-intensive manufacturer) reflects the combination of premium brand pricing, the high-margin PACCAR Parts aftermarket business, and PACCAR Financial Services (truck financing that captures the economics of the financing relationship alongside the truck sale).
Competitive Landscape 2025–2026
In 2025, PACCAR competes in the Class 8 heavy truck manufacturing and commercial vehicle market with Daimler Truck (FRA: DTG, Freightliner + Mercedes-Benz Trucks, €54B revenue), Volvo Group (STO: VOLV, Volvo Trucks + Mack Trucks, SEK 553B revenue), and Traton Group (FRA: 8TRA, Volkswagen Truck subsidiary, €44B revenue) for North American and European heavy truck purchase decisions by large fleet operators and owner-operators. PACCAR's Amplify Cell Technologies JV (with former competitor Daimler Truck, alongside Cummins) represents an unusual cross-competitor battery manufacturing partnership — signaling that electric Class 8 truck battery manufacturing requires scale beyond what any individual OEM can achieve in the near-term US market. The Toyota hydrogen fuel cell partnership (150+ paid deposits for Kenworth/Peterbilt FCEVs, deliveries commencing 2025) positions PACCAR in the hydrogen truck segment alongside Nikola (NASDAQ: NKLA) and Hyundai. The 2025 strategy focuses on delivering the hydrogen FCEV trucks, scaling Amplify Cell Technologies production, and maintaining Class 8 market share through the EV technology transition while the conventional diesel platform continues to generate the cash flow funding the transition.
The Paccar Story
Founders
Recent Activity
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Major milestones in Paccar's journey
Leadership Team
Meet the leaders behind Paccar
R. Preston Feight
Preston Feight became CEO of PACCAR in July 2019 after being appointed executive vice president in 2018. In his 26 years with PACCAR, he has held positions as director of product planning, chief engineer, assistant general manager of sales and marketing, general manager of Kenworth Truck Company, and president of DAF Trucks. He holds a Bachelor of Science in Mechanical Engineering from Northern Arizona University and a Master of Science in Engineering Management from the University of Colorado. In November 2024, he was appointed to the Deere & Company board of directors.
Mark C. Pigott
Mark Pigott is the great-grandson of founder William Pigott and serves as Executive Chairman of PACCAR. He represents the fourth generation of the Pigott family to lead the company, continuing the family's legacy of quality manufacturing and innovation that has defined PACCAR for over a century.
Harrie C.A.M. Schippers
Harrie Schippers has served as Chief Financial Officer and President of PACCAR since January 2018. He brings extensive financial leadership experience to guide the company's global operations and strategic financial planning.
John N. Rich
John Rich has served as Chief Technology Officer and Senior Vice President of PACCAR since 2024. He leads the company's technology strategy, including innovations in electric vehicles, autonomous driving, and connected truck technologies.
A. Lily Ley
Lily Ley has served as Chief Information Officer and Vice President of PACCAR since January 2017. She oversees the company's information technology infrastructure and digital transformation initiatives.
Vikas Jain
Vikas Jain serves as Chief Data & Digital Officer at PACCAR, leading the company's data analytics and digital innovation strategies to enhance customer service and operational efficiency.
Key Differentiators
Market Leader
Paccar is recognized as a market leader in the Manufacturing sector, demonstrating strong industry presence and customer trust.
Frequently Asked Questions
Estimated Visibility Trend (Beta)
Simulated 8-week rolling score
Based on estimated brand signals. Historical tracking coming soon.
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