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Paccar To Suspend Truck And Engine Production Until April 6

Paccar Inc (PCAR) said it will suspend truck and engine production at its factories worldwide from March 24 until April 6, 2020.

The move came in response to recent changes in customer demand and a weaker outlook for the global economy, as a consequence of the coronavirus pandemic.

The company noted that its financial results for the first quarter and the remainder of 2020 will be impacted by lower production schedules due to changes in customer demand and the impact of government regulations or mandates.

The company will provide an update on its 2020 outlook and first quarter results during the earnings call scheduled for April 21.

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