DAF raises European truck forecast

DAF has increased its forecast of European sales of commercial vehicles over 16 tonnes in Europe, owing to continued economic and freight growth.

Preston Feight, Paccar vice president and DAF president, said: “We’ve raised our European above 16-tonne truck market estimate to a range of 290,000-310,000 vehicles this year due to continued economic and freight growth. The new 2017 DAF XF and CF trucks are enhancing our customers’ operating performance with up to seven per cent fuel efficiency increases. DAF’s above 16-tonne truck orders are 10 per cent higher in the first six months of 2017 compared to the same period last year.”

DAF started operations at a new $110 million cab paint facility in Westerlo, Belgium in June, enabling it to increase cab production capacity by 50 per cent.

Harry Wolters, DAF director of operations, said: “This technology investment will support future increases in DAF’s European market share and geographic expansion, and demonstrates DAF’s technology leadership in the production of industry-leading vehicles.”

Paccar, which also owns the Kenworth and Peterbilt brands, increased sales to $4.7 billion in the second quarter of 2017 – up from $4.4bn last year.

Net income was $373 million compared to $481.3 million last year.

Ron Armstrong, chief executive officer, said: “Paccar’s financial results reflect increasing North American truck production and market share, strong European truck markets and higher global aftermarket parts sales.”