PACCAR Achieves Record Market Share

    BELLEVUE, Wash.--Jan. 24, 2003--PACCAR : "Kenworth and Peterbilt increased their U.S. Class 8 retail sales market share from 19.7 percent in 2001 to a record 23.7 percent in 2002," said David Hovind, vice chairman. "Kenworth continues to be the market share leader in Mexico and Australia. Customers recognize the superior quality that Kenworth and Peterbilt trucks deliver, as well as the high residual value earned after three to five years of rigorous use, both of which are critical factors in the decision to buy a premium product. DAF increased its record market share in Europe to 12.2 percent in the above 15T market, as well as increasing its market share in the 6-15T market to 8.6 percent."
    Tom Plimpton, president, added, "PACCAR achieved a record 6.7 percent registration share in the Class 6-7 truck and tractor market in the U.S. and Canada. The J.D. Power and Associates Customer Satisfaction Study(SM)(a) award for medium-duty conventional trucks has been won by either Kenworth or Peterbilt for four consecutive years. Kenworth and Peterbilt are the fastest growing medium-duty products in the marketplace and this growth has contributed to our dealers' profitability. PACCAR has established a solid framework to continue to grow its medium-duty market share."
    PACCAR is a global technology leader in the design, manufacture and customer support of high-quality, light-, medium- and heavy-duty trucks under the Kenworth, Peterbilt, DAF and Foden nameplates. It also provides financial services and distributes truck parts related to its principal business. In addition, the Bellevue, Washington-based company manufactures winches under the Braden, Gearmatic and Carco nameplates.
    PACCAR shares are traded on the Nasdaq Stock Market, symbol PCAR, and its homepage can be found at www.paccar.com.

    (a) J.D. Power and Associates 1999-2002 Medium-Duty Truck Customer Satisfaction Studies(SM), Medium-Duty Truck defined as Gross Vehicle Weight Class 5, 6 or 7 truck. www.jdpower.com.