Truck manufacturing company Paccar Inc.(PCAR) said that its truck deliveries in the third quarter of 2021 declined by about 7,000 vehicles, due to the ongoing global semiconductor shortage.
The company expects third quarter truck deliveries to be about 33,000 vehicles, compared to 40,100 vehicles delivered in the second quarter of 2021.
The company anticipates that the semiconductor shortage and associated production inefficiencies will continue in the fourth quarter.
The company expects global truck production to strengthen when the supply disruptions are resolved. Global demand for the new Kenworth, Peterbilt and DAF trucks is very strong.
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