Paccar announced Tuesday it has suspended truck and engine production at its factories worldwide from March 24 to April 6, due to the COVID-19 coronavirus pandemic.
Paccar says it will review future actions on a regular basis and will continue to provide aftermarket support to its customers who deliver essential infrastructure services.
Additionally, Paccar’s financial results for the first quarter and the remainder of 2020 will be impacted by lower production schedules due to changes in customer demand and the impact of government regulations or mandates. The company says it will provide an update on its 2020 outlook and first quarter results during the earnings call scheduled for April 21, 2020.
“Paccar’s excellent balance sheet, experienced leadership team and outstanding employees will contribute to the company successfully managing through this difficult period,” says CEO Preston Feight.
Paccar’s announcement follows news from Mack, Volvo, Navistar and Daimler Trucks North America, all of which also enacted temporary shutdowns in the last week due to the coronavirus pandemic.
