PACCAR 2010 Annual Report Download - page 29

Download and view the complete annual report

Please find page 29 of the 2010 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 87

  • 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
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87

 The Company’s new truck deliveries are summarized below:
2010 2009 % change
United States 29,100 28,300 3
Canada 6,100 4,400 39
U.S. and Canada 35,200 32,700 8
Europe 31,200 22,200 41
Mexico, Australia and other 12,400 6,100 103
Total units 78,800 61,000 29
In the U.S. and Canada, 2010 net sales and revenues increased to $4.42 billion from $3.57 billion in 2009. Industry
retail sales in the heavy-duty market in U.S. and Canada increased 17% to 126,000 units in 2010 compared to
108,000 units in 2009. The Company’s market share was 24.1% in 2010 and 25.1% in 2009. The medium-duty
market was 41,000 units in 2010 and 2009. The Company’s medium-duty market share was 13.5% in 2010
compared to a 15.9% in 2009.
In Europe, 2010 net sales and revenues increased to $3.19 billion from $2.52 billion in 2009. The 15-tonne and above
truck market in Western and Central Europe was 183,000 units compared to 168,000 units in 2009. The Company’s
market share was 15.2% in 2010 compared to 14.8% in 2009. DAF market share in the 6- to 15-tonne market in 2010
was 7.7%, compared to 9.3% in 2009. The 6- to 15-tonne market in 2010 was 51,000 units, comparable to 2009.
Net sales and revenues in Mexico, Australia and other countries outside the Company’s primary markets increased
to $1.63 billion in 2010 from $.91 billion in 2009 primarily due to higher sales from new truck deliveries in Mexico
($.44 billion) and Australia ($.19 billion) reflecting higher market demand.
The major factors for the change in net sales and revenues, cost of sales and revenues and gross margin between
2010 and 2009 follow:
Net Cost Gross
Sales of Sales Margin
2009 $ 6,994.0 $ 6,414.9 $ 579.1
Increase/(decrease)
Truck delivery volume 1,410.7 1,189.3 221.4
Average truck sales prices 523.1 523.1
Average per truck material, labor, and other direct costs 256.5 (256.5)
Factory overhead, warehouse and other indirect costs 89.7 (89.7)
Aftermarket parts volume 266.7 176.0 90.7
Average aftermarket parts sales prices 51.3 51.3
Average aftermarket parts direct costs 12.5 (12.5)
Currency translation (8.5) (13.4) 4.9
Total increase 2,243.3 1,710.6 532.7
2010 $ 9,237.3 $ 8,125.5 $ 1,111.8