Paccar achieved 30.4% market share in the second quarter of 2025 in North American markets.
Paccar’s second quarter at a glance:
Paccar reported consolidated net sales and revenues of $7.51 billion and net income of $723.8 million in Q2.
The company had global truck deliveries of 39,300 units and earned 30% marketshare in North America in the first six months of the year.
Paccar Parts was a shining star for the business, earning pre-tax income of $416.5 million and record revenues of $1.72 billion.
Paccar also announces capital investments of $226.8 million and research and development expenses of $112.9 million through June, with more projects on the horizon as the year progresses.
Paccar’s second-quarter earnings are out. The company announced a net income of $723.8 million, compared to $1.12 billion in the same period last year.
“Paccar achieved good revenues and net income in the second quarter of 2025,” says Preston Feight, CEO. “Peterbilt, Kenworth and DAF delivered good results, Paccar Parts delivered quarterly revenue and strong profits, and Paccar Financial Services achieved very good results. I am very proud of our employees and dealers who delivered outstanding trucks and transportation solutions to our customers.”
What did Paccar’s first six months of 2025 look like?
In the first half of 2025, net income was $1.23 billion, including a $264.5 million after tax non-recurring charge related to civil litigation in Europe. The company had an adjusted net income of $1.49 billion in the first six months of the year with net sales and financial services revenues of $14.95 billion.
"The truck industry continues to be in an exciting and dynamic time," Feight says. "Paccar's investments in new trucks, such as DAF's 2025 truck range, advanced manufacturing, and technology-enabled aftermarket solutions, will support customers' and the company's growth."
For the first half of 2025, Paccar Parts’ revenues were $3.41 billion, compared to $3.34 billion in the same period last year. That's a pre-tax profit of $843 million, compared to $869.6 million in the first six months of 2024.
Paccar Financial Services (PFS) had a pre-tax income of $244.3 million for the first half of 2025, which compares to $225.1 million in 2024.
"PFS achieved very good first half results due to its excellent portfolio and an improving used truck market," says Craig Gryniewicz, Paccar vice president. It issued $1.84 billion of medium-term notes during the first half of 2025.
Highlights of Paccar’s first six months of the year included:
Consolidated net sales and revenues of $14.95 billion.
Consolidated net income of $1.23 billion and adjusted net income of $1.49 billion.
Capital investments of $398.7 million and research and development expenses of $228.3 million.
Paccar Parts pre-tax income of $843 million.
Paccar Financial Services pre-tax income of $244.3 million.
Cash generated from operations of $1.74 billion.
Breaking down Paccar’s Q2
In the second quarter, Paccar’s net sales and financial services revenues were $7.51 billion, compared to $8.77 billion in the same quarter of 2024.
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"The North American truck market is being affected by economic conditions, the uncertain impact of tariffs, and a soft truckload market," Feight says. "Customer demand in the less-than-truckload and vocational segments, including construction, is good."
Other highlights from the second quarter include:
Global truck deliveries of 39,300 units.
Record Paccar Parts revenues of $1.72 billion.
Paccar Parts pre-tax income of $416.5 million.
Paccar Financial Services pre-tax income of $123.2 million.
Capital investments of $226.8 million and research and development expenses of $112.9 million.
$833.4 million in cash generated from operations.
$18.84 billion in stockholder equity.
Paccar in the global truck market
Class 8 sales in the U.S. and Canada are expected to be in the range of 230,000-260,000 this year. In the first six months of 2025, Kenworth and Peterbilt achieved 30.4% market share.
"Kenworth and Peterbilt's industry-leading trucks provide customers with premium quality and low total cost of ownership," says Kevin Baney, Paccar executive vice president. "Paccar produces over 90% of its trucks for U.S. customers in its Ohio, Texas and Washington State factories. Paccar is expanding its Mississippi engine factory by constructing a $35 million, 50,000 sq.-ft., engine remanufacturing facility."
Truck registrations above 16 tonnes in Europe are estimated to be in the range of 270,000-300,000 this year.
"DAF trucks are delivering the highest fuel efficiency and best-in-class driver comfort in the industry due to their innovative, aerodynamic design," says Harald Seidel, DAF president. "DAF introduced its 2025 model year trucks, which include a new turbo system and engine valve timing, predictive cruise control and enhanced aerodynamics. DAF has increased the industry-leading fuel efficiency of its trucks by 3%."
The same market in South America is expected to be in the range of 90,000-100,000 units.
"Brazilian customers appreciate DAF's industry-leading product quality, complemented by its outstanding aftermarket support, including Paccar Parts, Paccar Financial Service and DAF's premium dealerships," says Mike Dozier, Paccar's executive vice president."
Paccar operates 20 global parts distribution centers with more than 3.9 million square feet.
Paccar Parts hits record for quarterly revenues
Paccar Parts had a quarterly pre-tax income of $416.5 in the second quarter, compared to $413.8 million in the same quarter last year. The division had record quarterly revenues of $1.72 billion in the second quarter, compared to $1.66 billion in the same period last year.
"Paccar Parts provides aftermarket parts and transportation solutions that deliver greater uptime and profitability for our customers," says Bryan Sitko, Paccar vice president and Paccar Parts general manager. "Paccar Parts’ excellent performance reflects investments in new parts distribution centers, transportation solutions such as Managed Dealer Inventory and Fleet Services, and a growing number of Paccar trucks with Paccar powertrains in operation."
Paccar Parts has 20 global distribution centers with more than 3.9 million square feet. It supports more than 2,000 DAF, Kenworth and Peterbilt sales, parts and service locations, and more than TRP stores.
Paccar Financial Services earns more than last year
PFS earned a pre-tax income of $123.2 million in the second quarter of 2025, compared to $111.2 million in the second quarter of last year. It had second quarter revenues of $547.7 million compared to $509.8 million in the same period of 2024.
"PFS is a leader in the market with its superior Kenworth, Peterbilt and DAF trucks, innovative technologies that provide seamless credit application and loan servicing processes," Gryniewicz says.
"Paccar’s excellent balance sheet, complemented by its A+/A1 credit ratings, enables PFS to offer competitive retail financing to Kenworth, Peterbilt and DAF dealers and customers in 26 countries on four continents," says Terren Drake, Paccar Financial Corp. president.
Paccar invested $226.8 million in capital projects and $112.9 million in research and development projects, such as Peterbilt's 579EV battery electric truck.
Details of Paccar’s capital and research and development investments
Paccar invested $226.8 million in capital projects and $112.9 million in research and development expenses in the second quarter.
"Capital expenditures are projected to be in the range of $750-$800 million and research and development expenses are estimated to be in the range of $450-$480 million in 2025," says Brice Poplawski, senior vice president and chief financial officer. "Paccar is investing in exciting next generation clean diesel and alternative powertrains, integrated connected vehicle services, expanded manufacturing capabilities, and advanced driver assistance systems that create value for customers."
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Paccar operates 20 global parts distribution centers with more than 3.9 million square feet.
Paccar operates 20 global parts distribution centers with more than 3.9 million square feet.
Paccar invested $226.8 million in capital projects and $112.9 million in research and development projects, such as Peterbilt's 579EV battery electric truck.
