BELLEVUE, Wash. – PACCAR Inc. has made the decision to suspend truck and engine production at its factories worldwide from March 24 to April 6 as a result of the COVID-19 economic threat.
PACCAR, which manufactures of light-, medium- and heavy-duty trucks under the Kenworth, Peterbilt and DAF nameplates, said in a release on Tuesday, March 24, that the company will review future actions on a regular basis. PACCAR will continue to provide aftermarket support to its customers who deliver essential infrastructure services to our communities.
PACCAR’s financial results for the first quarter and the remainder of 2020 will be impacted by lower production schedules due to changes in customer demand and the impact of government regulations and mandates. The company will provide an update on its 2020 outlook and first quarter results April 21.
“PACCAR’s excellent balance sheet, experienced leadership team and outstanding employees will contribute to the company successfully managing through this difficult period,” said CEO Preston Feight.
This decision follows similar actions by other OEMs that have also temporarily suspended some aspects of production, including Navistar, Volvo and Mack.