The Journal of Commerce reported that truck manufacturer Paccar reported the highest quarterly revenue in its history resulting from U.S. truck operators replacing aged heavy trucks with newer models.

The report indicates the manufacturer of Kenworth and Peterbilt heavy trucks reported $4.26 billion in revenue in the third quarter, a 68 percent increase over the same period in 2010.   Additionally, PACCAR’s net profit increased 135% year-over-year to $281.6 million, and more than doubled year-to-date to $710 million.

Net orders for Class 8 trucks in the U.S. rose in September, posting month-to-month and year-over-year gains, according to ACT Research and FTR Associates.

The article quotes Mark Pigott, chairman and CEO as stating that North American customers “are benefiting from increased freight tonnage and higher fleet utilization”.

PACCAR expects Class 8 industry retail sales in the U.S. and Canada to be in the range of 185,000 to 200,000 vehicles this year, and 205,000 to 230,000 in 2012.