Paccar Inc. announced earlier this week that net income and sales dropped for second quarter 2001 compared with the same period a year ago. The Bellevue, WA-based company blamed the losses on a continued weak truck market.

Paccar showed a $39.5 million net income for the second quarter, compared with $131.1 million for the second quarter 2000. Revenue for the second quarter was $1.5 billion, 29 percent lower than the $2.1 billion reported for the same period last year.

"The truck market in North America remains weak and this trend is expected to continue for at least another 6 to 12 months," said Paccar Chairman and CEO Mark Pigott. "New Class 8 retail sales are 38 percent lower than a year ago. The industry continues to be impacted by lower freight tonnage, higher operating costs for truckers and a large number of used trucks."