PACCAR 2009 Annual Report Download - page 21

Download and view the complete annual report

Please find page 21 of the 2009 PACCAR annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 79

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79


PACCAR FINANCIAL SERVICES
PACCAR Financial Services (PFS) companies, which support the sale of PACCAR trucks
worldwide, achieved good results in 2009, reporting pre-tax profits of $85 million. The
PFS portfolio is comprised of 143,000 trucks and trailers, with total assets of $8.4 billion.
PACCAR’s excellent balance sheet, complemented by its reaffirmed AA- credit rating, enabled PACCAR to
issue $1.3 billion in two-, three- and five-year notes in the public debt markets during 2009. Ongoing access
to the capital markets at excellent rates enables PFS to profitably support the sale of PACCAR vehicles in 20
countries on three continents. PFS strengthened its market leadership in 2009, achieving retail market share of
26%, while the global recession caused many lenders to exit the transportation finance business.
PACCAR Financial Europe (PFE) has $2.4 billion in assets and is the leading financial services provider to
DAF dealers and customers in 16 Western and Central European countries. PFE and DAF developed innovative
sales programs to reduce dealer new truck inventories by 50% and strengthen dealers’ balance sheets in 2009.
PFS utilized its dedicated used truck sales facilities in Europe and North America — including its recently
opened used truck center in South Carolina — to remarket a record 12,000 pre-owned PACCAR trucks.
PACCAR Financial offers an industry-leading spectrum of creative, flexible products, services and information
technologies to facilitate the sale of premium-quality PACCAR vehicles throughout the world.