PACCAR reported stronger than expected third quarter earnings before the market Tuesday despite chip issues and supply constraints. The PACCAR parts segment delivered record revenues and pretax profits; a 32% increase compared to the third quarter of 2021. Profit margins for both trucks and the parts business were up substantially year over year. Investors have concerns however with the global economic and supply-chain issues constraining orders and production. PCCAR is also set for a large research-and-development spend that might impact … Continue reading “PACCAR Recovers from Chip Issues, Delivers Record Parts Revenues”
Paccar Trucks to Deliver FedEx Packages Using Aurora’s Autonomous Technology
Aurora Innovation, a California-based self-driving technology company announced it is collaborating, with Paccar to launch a commercial pilot of autonomous trucks hauling goods for package delivery firm FedEx. The Paccar trucks will be equipped with Aurora’s autonomous technology to haul FedEx loads between Dallas and Houston on one of America’s busiest routes, the 500-mile round trip I-45 corridor. The pilot marks the next phase of a partnership among the three companies that was announced in January. The trucks will operate … Continue reading “Paccar Trucks to Deliver FedEx Packages Using Aurora’s Autonomous Technology”