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PACCARDesigns, manufactures, and distributes Class 5–8 commercial trucks under the Kenworth, Peterbilt, and DAF brands. Strong dealer network across North America and Europe; major aftermarket parts business.
Q1 2023-Q1 2026
| Year | Parts Revenue ($M) | Parts Pretax Income ($M) | Pretax Margin (%) |
|---|---|---|---|
| 2014 | 3,080 | 496.7 | 16.1 |
| 2015 | 3,060 | 555.6 | 18.2 |
| 2016 | 3,010 | 543.8 | 18.1 |
| 2017 | 3,330 | 614.2 | 18.4 |
| 2018 | 3,840 | 768.6 | 20 |
| 2019 | 4,020 | 830.8 | 20.7 |
| 2020 | 3,910 | 799.3 | 20.4 |
| 2021 | 4,944.3 | 1,110 | 22.4 |
| 2022 | 5,764.3 | 1,446.6 | 25.1 |
| 2023 | 6,410 | 1,700 | 26.5 |
| 2024 | 6,670 | 1,710 | 25.6 |
2021-Q2-2026-Q1
1998-2025
$PCAR
Kenworth T680E and Peterbilt 579EV — ramping production 2025.
Key Milestones
Seattle Car Manufacturing (PACCAR predecessor) founded by William Pigott Sr. building railroad cars; would acquire Kenworth (1945) and Peterbilt (1958) to become one of the world's largest Class 8 truck makers
Pacific Car & Foundry (PACCAR) acquires Kenworth Motor Truck Company; gains its first Class 8 truck brand and pivots from rail/forging into heavy-duty trucks
PACCAR acquires Peterbilt Motors after founder T.A. Peterman's death; the Kenworth + Peterbilt duopoly defines premium American Class 8 trucking through the next 60 years
Kenworth T680E Class 8 BEV revealed: 396 kWh battery, ~150 mi range targeted at regional haul / drayage; Peterbilt 220EV (Class 6/7) and 579EV (Class 8) announced as parallel platforms: PACCAR's first true HD electrics
Peterbilt Model 579EV battery-electric Class 8 begins commercial customer deliveries; rollout staged through Peterbilt dealer network with HVIP voucher support in California ports
Aurora + PACCAR partnership formally locks in Peterbilt 579 and Kenworth T680 as platforms for Aurora Driver: PACCAR commits chassis for autonomous production by mid-decade in exchange for preferential rollout access
Kenworth T680E enters series production at Renton WA plant: PACCAR's first US-built series-production Class 8 BEV; targets HVIP-eligible drayage, beverage and regional fleets
Kenworth T680 Fuel Cell Electric Truck (with Toyota Mirai-derived powertrain) begins ZECT trial at Port of LA; 320 mi range target: PACCAR's parallel hydrogen path alongside Peterbilt/Kenworth BEV programs
PACCAR + Accelera (Cummins) + Daimler Truck JV announced to localize LFP battery cell production in US: $2-3B capex Mississippi plant, 21 GWh nameplate from 2027: first OEM-level commercial-vehicle battery JV under IRA 45X tax credits
EPA finalizes GHG Phase 3 standards for heavy-duty vehicles MY2027-2032; expected ZEV share rises to ~25% Class 8 by 2032: locks in long-term ramp glide path that PACCAR executes through Kenworth T680E v2 and Peterbilt 579EV
Peterbilt 579EV refresh announced at IAA Hannover with 250-mi long-range pack option (565 kWh), plus tighter Aurora autonomous package integration: closes feature gap with Volvo VNR Electric and eCascadia
Aurora-equipped Peterbilt 579 begins commercial driverless freight runs Dallas-Houston for FedEx, Werner and Schneider. PACCAR's chassis ships into the first revenue-generating L4 trucking lane
Peterbilt 579EV cumulative US deliveries pass 600 units; Kenworth T680E passes 400: combined PACCAR Class 8 BEV book closes on Volvo VNR Electric and runs ahead of Tesla Semi by units delivered through Q3 2025
Mississippi Accelera-PACCAR-Daimler battery cell JV starts pre-production; nameplate 21 GWh by 2027: IRA 45X credits underpin economics; first US-owned commercial-vehicle LFP cell line
