Fueled by steadfast demand for its top-tier vehicles and strategic expansion initiatives, PACCAR is poised for growth. While truck sales drive most of its revenues, its expanding aftermarket parts business strengthens long-term stability. PACCAR's robust balance sheet with A+/A1 credit ratings instills optimism. However, significant capital expenditures for advanced technologies may put pressure on near-term financials and cash flow. Additionally, the company foresees a decline in European registrations for trucks of more than 16 tons in 2025 and expects sequentially lower truck deliveries in the first quarter. For now, we maintain a neutral outlook on the stock.