2021 marked a significant year for PACCAR’s financial performance
In 2021, PACCAR’s annual revenue surged 25.6% from 2020, totaling $23.52 billion, driven by new technologies for operational efficiencies in addition to the launch of new products, delivering a total of 162,700 trucks globally. During the year, the company launched new heavy- and medium-duty Kenworth, Peterbilt and DAF vehicles, in addition to initiating the production of zero emissions trucks. The company also partnered with a leading autonomic vehicle technology company to develop autonomous trucks.
Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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