PACCAR(US:PCAR)2023-08-10 08:07Financial Performance - PACCAR's 2022 revenues reached $28.8 billion[72] and net income was $3.0 billion[72] - In the second quarter of 2023, PACCAR's revenues were $8.881 billion[246], up from $7.159 billion in the second quarter of 2022[246], representing a 24% increase - Net income for the second quarter of 2023 was $1.221 billion[246], compared to $720 million in the same period of 2022[246] - PACCAR Parts achieved $5.76 billion in sales and $1.45 billion in pretax profits in 2022[209] - PACCAR Financial Services' total assets were $17.2 billion as of December 31, 2022[238] Market Position and Strategy - PACCAR's heavy-duty market share in the US and Canada was 27.7%, in Europe 16.1%, and in South America 8.8% in the second quarter of 2023[11] - PACCAR Financial financed 26% of all Kenworth, Peterbilt, and DAF trucks in 2022[27] - PACCAR is investing in new products and technologies, with $7.3 billion spent in the last decade ended 2022[176] - PACCAR aims for a 10% market share for Kenworth and DAF products in South America[219] Operational Efficiency - PACCAR's historical annual gross margins reached 19.1%[9] - PACCAR produced 185,900 trucks in 2022[134] - PACCAR Parts has a global network of over 2,300 dealerships[94] Financial Services - Total Financial Services Assets reached $19.041 billion as of June 30, 2023[13] - Financial Services Liabilities totaled $14.304 billion, with an equity of $4.737 billion[13]