Paccar

Global technology leader in the design, manufacture and customer support of high-quality premium trucks.PACCAR Inc (PACCAR) is engaged in the design, manufacture and customer support of light, medium- and heavy-duty trucks under the Kenworth, Peterbilt and DAF nameplates. The company also provides customized financial services, information technology and truck parts related to its principal business. 

The Company operates in three segments: design, manufacture and distribution of light-, medium- and heavy-duty trucks, distribution of parts for the truck aftermarket and related commercial vehicles, and finance and leasing products and services provided to customers and dealers.

The Company’s finance and leasing activities are principally related to Company products and associated equipment. The Company’s other business is the manufacturing and marketing of industrial winches.

Paccar is a technology innovator and manufacturer of steel, log-transport equipment, light and medium-duty trucks, parts, and winches. William Pigott Sr. founded Seattle Car Manufacturing Co. in 1905 and began producing "bunks," the steel clasps used to secure logs to railroad flat cars. In 1907, a fire destroyed the company's Youngstown plant, and the national financial panic forced the company into voluntary receivership. However, in 1908, the Seattle Car Manufacturing Co. opened a modern railcar manufacturing plant in Renton, and in 1909, the company built a new factory in Renton and was filling larger orders than ever before.

In 1911, the company changed its name to Seattle Car and Foundry Company, and in 1915, it merged with Twohy Brothers of Portland to become Pacific Car and Foundry Company, a name it retained for the next 55 years. In 1917, Pacific Car and Foundry merged with its only West Coast competitor, Twohy Brothers of Portland, Oregon. Seattle Steel became the first steel mill in the United States to adopt an eight-hour day, and in 1924, William Pigott sold control of the company to American Car & Foundry Company.

Despite the stock market crash, earnings rose, but as the Great Depression deepened, Pacific Car and Foundry soon became one of Seattle’s most depressed businesses. However, the company continued to innovate, and in 1933, Kenworth became the first American truck manufacturer to install diesel engines as standard equipment. In 1939, T.A. Peterman acquired Fageol Motor Car Company, changed the name to Peterbilt Trucks, and began producing trucks for the timber industry.

During World War II, Pacific Car and Foundry Co. supplied Sherman tanks, components for Boeing B-17 bombers, steel for new defense factories, and logging and mining equipment. Following a reorganization in 1943, the company retired its common stock and compensated stockholders with new preferred shares. In 1945, the company entered the heavy-duty truck market with its first major acquisition, Kenworth Motor Truck Company of Seattle, and in 1946, it became a division of Pacific Car.

In 1953, Pacific Car & Foundry bought the Seattle facilities of the Commercial Ship Repair Company, and in 1955, Kenworth's first international subsidiary, Canadian Kenworth Ltd., was formed and began producing trucks in Burnaby, British Columbia. In 1958, Pacific Car and Foundry greatly expanded its heavy-duty truck capability with the purchase of Peterbilt Motors Company. In 1960, Paccar became an international truck manufacturer, and Carco Acceptance Corporation, currently PACCAR Financial Corp., was launched to facilitate domestic sales of trucks. Paccar forms a joint venture with Gustavo Vildosola Castro in Mexico to form Kenworth Mexicana.

When Paul Pigott died in 1961, Robert O'Brien was named to succeed him as president of the company. In 1962, Pacific Car and Foundry fabricated steel for Seattle's iconic Space Needle, built for the 1962 World's Fair. Robert O'Brien was promoted to chairman of the board in 1965 and was replaced as president by Charles Pigott, grandson of the founder. In 1966, Kenworth moved into Mexico with 49 percent participation in an affiliate company, Kenworth Mexicana S.A. de C.V., and PACCAR entered the Australian truck market with the establishment of a Kenworth subsidiary in Melbourne.

In 1980, PACCAR established a subsidiary in Europe, DAF Trucks, which became its main operating company in the continent. DAF Trucks grew to become one of the leading manufacturers of commercial vehicles in Europe, with a strong presence in the United Kingdom, the Netherlands, and other European markets. DAF Trucks was also known for its innovative engineering, particularly in the area of fuel efficiency.

Throughout the 1980s and 1990s, PACCAR continued to expand its operations, adding new facilities and product lines. In 1993, the company acquired a stake in Peterbilt Motors, a manufacturer of heavy-duty trucks based in the United States. This acquisition allowed PACCAR to expand its product line and market share in North America.

PACCAR also continued to invest heavily in research and development during this period, developing new technologies to improve fuel efficiency, reduce emissions, and enhance driver comfort and safety. In 1999, the company introduced the SmartSteer system, which used electronic sensors to adjust steering resistance and improve handling in heavy trucks.

In the early 2000s, PACCAR continued to expand its operations globally, opening new facilities in Asia and South America. The company also continued to invest in research and development, introducing new technologies such as the MX engine series, which offered improved fuel efficiency and reduced emissions.

In recent years, PACCAR has continued to innovate in the areas of fuel efficiency and driver safety. In 2017, the company introduced the Peterbilt Model 579 UltraLoft, which featured an aerodynamic design that reduced wind resistance and improved fuel efficiency. The same year, PACCAR also introduced the Kenworth T680 Advantage, which used advanced technologies to improve fuel efficiency by up to 6%.

Today, PACCAR is one of the largest manufacturers of heavy-duty trucks in the world, with a strong presence in North America, Europe, and other global markets. The company is known for its focus on innovation and quality, as well as its commitment to sustainability and social responsibility.

PACCAR's mission to procure parts and materials, as well as coordinate global material logistics, is a critical component of the company's success. By managing a global supply chain, PACCAR is able to ensure that its production lines have the necessary parts and materials to build trucks efficiently and effectively. Additionally, by coordinating material logistics, PACCAR is able to reduce costs and optimize its operations, ultimately increasing profitability.

PACCAR's global purchasing organization is responsible for sourcing and procuring a wide range of products, including heavy and medium duty truck production parts, aftermarket parts, non-production materials, and services. This includes everything from engines, transmissions, and axles to paint, fasteners, and electrical components. By sourcing materials from all over the world, PACCAR is able to find the highest quality products at the best prices, ensuring that its trucks are built to the highest standards while remaining cost competitive in the market.

In addition to sourcing and procuring parts and materials, PACCAR's global purchasing organization is responsible for coordinating global material logistics. This involves managing the transportation, storage, and delivery of materials to PACCAR's manufacturing facilities around the world. By optimizing these processes, PACCAR is able to reduce transportation costs, minimize inventory levels, and improve delivery times, ultimately increasing efficiency and reducing lead times.

Paccar's vision statement, "To be the world's best heavy and medium duty truck supplier," reflects the company's commitment to excellence and innovation. The company strives to achieve this vision by constantly improving the quality, reliability, and performance of its products, as well as providing outstanding customer service and support.

One of the key factors that sets Paccar apart from its competitors is its focus on innovation. The company invests heavily in research and development, with the goal of creating new and better products that meet the evolving needs of its customers. This includes developing new technologies to improve fuel efficiency, reduce emissions, and enhance safety, as well as designing trucks that are more comfortable and easier to operate.

Another important aspect of Paccar's vision is its dedication to sustainability. The company recognizes the importance of protecting the environment and reducing its carbon footprint, and has implemented a range of initiatives to achieve these goals. These include investing in alternative fuel technologies, such as natural gas and electric vehicles, and optimizing its manufacturing processes to minimize waste and energy consumption.

Paccar's vision statement also reflects its commitment to providing exceptional customer service and support. The company understands that its success depends on the satisfaction of its customers, and strives to exceed their expectations at every opportunity. This includes providing extensive training and support to dealers and customers, as well as offering a comprehensive range of financing and leasing options.

Paccar is primarily focused on the design, manufacture, and distribution of heavy and medium duty commercial trucks under the Peterbilt, Kenworth, and DAF brand names. The company's product lines include a wide range of trucks, including conventional trucks, cabover trucks, and hybrid and electric trucks. Paccar also produces diesel engines and provides financial services, such as leases and loans, through its PACCAR Financial division.

The Peterbilt brand is known for producing premium quality heavy-duty trucks for a variety of applications, including long haul and regional hauling, construction, and municipal services. Peterbilt trucks are designed to offer superior reliability, durability, and performance, with features such as lightweight yet strong aluminum cabs, advanced aerodynamics, and fuel-efficient engines.

The Kenworth brand produces a wide range of medium and heavy-duty trucks that are built to handle tough environments and demanding applications. Kenworth's product line includes both conventional and cabover trucks, with options for long haul, regional hauling, construction, and other vocational applications. Kenworth trucks are designed to provide superior comfort, safety, and performance, with features such as spacious and ergonomic cabs, advanced suspension systems, and powerful engines.

The DAF brand is based in Europe and produces a range of medium and heavy-duty trucks for markets across the world. DAF trucks are known for their efficiency, reliability, and low operating costs, with features such as lightweight construction, advanced aerodynamics, and fuel-efficient engines. DAF trucks are used in a variety of applications, including long haul and regional hauling, construction, and municipal services.

In addition to its truck brands, Paccar also produces diesel engines under the PACCAR Engines brand. PACCAR Engines are designed to provide superior performance, fuel efficiency, and reliability, with options ranging from 6.7-liter to 16-liter displacement. PACCAR Engines are used in a variety of applications, including on-highway and off-highway trucks, as well as industrial and marine applications.

Finally, Paccar provides financial services through its PACCAR Financial division. PACCAR Financial offers a variety of financing options for customers, including leases, loans, and insurance products. These services are designed to help customers manage their cash flow, reduce financial risk, and acquire the equipment they need to grow their businesses.