PACCAR Inc (NASDAQ:PCAR) Q1 2023 Earnings Call Transcript

Preston Feight: Sure. I think from a connected vehicle standpoint, we do see revenue, I’d call it indirect revenue and profits that we get. We’ve been talking a lot about the Parts business. We can talk about the vehicles being connected and what it does for the customers, but it’s an indirect play in. So it shows up in parts and it shows up in truck. It even shows up in financial services in terms of how we’re able to help customers manage their business. From the autonomy standpoint, Jeff, I’d say that Aurora is a really good partner and we’re pleased with the progress they’re making with their autonomous driver, and we’re pleased with the progress we’re making on having an autonomous vehicle platform that operates with that.

And together, we’re just trying to make sure that we focus on safety being the primary tenet of this. And we’ll be on the road with those with drivers now. And I think that we’ll just have to wait and see when it will be time for us to go into a revenue-producing autonomy model that doesn’t have a driver and that could be a while.

JeffKauffman: Thank you very much.

Operator: Thank you. There are no other questions in the queue at this time. Are there any additional remarks from the company?

Ken Hastings: We’d like to thank everyone for joining the call, and thank you, operator.

Operator: Ladies and gentlemen, this concludes PACCAR’s earnings call. Thank you for participating. You may now disconnect.