The strengthening commercial vehicle market helped DAF parent group Paccar push its net income for the first nine months to $287.8 million compared to $65.8m in 2009.
Mark Pigott, group chairman and chief executive officer, said: “European truck industry orders have strengthened compared to a year ago due to rebounding freight demand. In Europe, DAF continues to achieve increased market share, which has contributed to improved financial results.”
Overall, the group, which makes Peterbilt and Kenworth trucks in the US, saw sales rise to $7.24 billion for the first three quarters compared to $5.85bn in 2009.
“DAF is the leader in European tractor sales with over 20 per cent market share,” said Harrie Schippers, DAF president.
“The estimate for 2010 industry sales in the above 15-tonne truck market in Europe is 160,000-170,000 units. As the European economy continues to improve, it is anticipated that industry sales in 2011 will be in a range of 200,000-220,000 units,” said Schippers.