Avi Jaroslawicz's questions to PACCAR (PCAR) leadership • Q3 2025
Question
Avi Jaroslawicz asked if the Q4 order book, which is 60-70% full, is uniform across regions. He also inquired about when customers might start pre-buying related to NOx rules, assuming no changes, and if this would be a first-half or second-half 2026 story.
Answer
Preston Feight, CEO, confirmed that the Q4 order book is pretty uniform across regions, with strong order intake in Europe matching North America's 67% full. He believes customers will consider all inputs (freight, rates, operating environment stability, 35 mg NOx) for their buying decisions. Mr. Feight expects significant interest in Q4 for 2026 buying plans, with reactions needed by Q1 if the 35 mg standard remains in place.