Paccar’s credit losses increase in third quarter

| Wednesday, November 12, 2008

Officials with Paccar, the company that manufactures the Peterbilt, Kenworth and DAF nameplates, reported $34.2 million in credit losses in the third quarter of 2008, nearly $12 million more than the $24.4 million in credit losses in the second quarter.

“Profit was reduced due to an increase in the provision for credit losses due to higher truck repossessions in the U.S. and Canada,” Paccar officials stated in late October.

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