The company controls three brands: Peterbilt (United States and Canada), Kenworth (United States, Canada, Mexico, and Australia), and DAF (primarily Europe, Brazil, and Australia); each is supported by a strong, independent dealer network. Good Business • PACCAR has been a long-term organic market share gainer in its markets, aided by consistent investment, robust new product development, and a strong independent dealer network. • The truck manufacturing industry is highly consolidated in North America, and PACCAR's manufacturing business operates with few plants, requires little inventory, often generates negative working capital (cash in before delivery), and achieves best-in-class margins. As a result, its manufacturing return on invested capital averages greater than 20% — better than most industrial businesses. • Parts sales have grown at a 6% compound annual growth rate (CAGR) over the last 15 years.