R. Preston Feight
Chief Executive Officer at PACCAR
Good morning. Thank you all for joining the call. Harrie Schippers, Michael Barkley and I will update you on our good third quarter results and business highlights. I appreciate our outstanding employees around the world, who are managing through the supply base constraints to deliver the highest quality trucks, parts and financial services solutions to our customers. And I'd also like to thank PACCAR's dealers and suppliers for their contributions and support during these dynamic times.
PACCAR's good quarterly revenues and net income in the third quarter reflect sales and profit records at PACCAR Parts and PACCAR Financial Services. Economies and freight markets continue to be robust in all of PACCAR's geographic markets. PACCAR is having a tremendous year of new product introductions and demand for the new Kenworth, Peterbilt and DAF Trucks is excellent. PACCAR's third quarter sales and Financial Services revenues were $5.2 billion and third quarter net income was $378 million.
PACCAR Parts achieved record quarterly revenues of $1.26 billion and record pretax profits of $281 million. PACCAR Financial achieved record pretax income of $120 million. Record setting Parts and Financial Services results illustrate the strength of PACCAR's businesses. With the strong order backlogs, growth in the truck divisions will accelerate as supply of semiconductors improves. We estimate Class 8 industry retail sales in the U.S. and Canada to be in a range of 230,000 to 250,000 trucks this year. Peterbilt and Kenworth have achieved 29.6% market share through September, although build is still expected to be limited by semiconductor supply in the fourth quarter. The good news is that we're starting to see improvements in the supply chain. We forecast the 2022 U.S. and Canadian Class 8 truck market to be in the range of 250,000 to 290,000 vehicles.
In Europe, this year's truck industry registrations in the above 16-tonne market are estimated to be in a range of 260,000 to 280,000 vehicles. DAF's year-to-date market share is 15.8%. The 2022 market is expected to be in the range of 260,000 to 300,000 trucks. The South American above 16-tonne market is projected to be in a range of 120,000 to 130,000 trucks this year. DAF Brasil's above 16-tonne market share through September was 5.6%. The South American above 16-tonne truck market is estimated to be in a range of 130,000 to 140,000 trucks next year.
The new Kenworth T680 and Peterbilt 579 trucks that began production in the third quarter are being well received by our customers. These trucks feature new styling, configurable digital instrumentation, advanced aerodynamics, distinctive LED forward lighting and they provide up to 7% greater fuel efficiency. The new Kenworth and Peterbilt medium-duty trucks that also began production in the third quarter provide features that customers appreciate, such as a wider cab with three-person seating, lower cab heights for easier entry and exit, and new digital instrumentation.
The exciting new DAF XF, XG and XG+ plus lineup feature luxurious interiors and beautiful exteriors that provide 10% greater fuel efficiency. The new DAF offers unsurpassed performance and value. DAF is the first truck manufacturer in the industry, who have taken full advantage of Europe's new regulations governing truck design. The new DAF trucks began production earlier this month. All of these new trucks position PACCAR very well for the future. PACCAR leads the industry with seven battery electric vehicle models now available. Kenworth, Peterbilt and DAF have orders for several hundred zero emissions vehicles and have 90 trucks operating with customers. These include Kenworth T680 fuel cell trucks, Peterbilt battery electric model 579s, and DAF medium-duty battery electric trucks.
PACCAR has advanced its autonomous truck program by working with its partners Aurora and FedEx to launch a commercial pilot of autonomous vehicles in the linehaul operations. The PACCAR trucks are operating autonomously with the backup driver for safety as they haul greater than 500-mile route between Dallas and Houston. PACCAR has launched an advanced global connected truck platform. Customers will benefit from the systems enhanced truck data security, advanced over-the-air software updates, elimination of the need for third-party hardware modules and an open platform that supports existing fleet management systems.
PACCAR's new proprietary Connect system increases customer value, increases PACCAR's recurring revenue and is part of PACCAR's digital transformation. We're pleased to share that PACCAR was recently recognized as a 2021 top company for women to work for in transportation by the Women and Trucking Association. We were honored for excellent working environment and company culture that supports gender diversity. PACCAR is committed to hiring and promoting the most talented people in the world and we know that the best people represent the diversity present in the global community.
PACCAR continues to be an environmental leader. PACCAR is working with the Science Based Targets Initiative and is committed to 2030 carbon reduction goals. PACCAR earned CDP Climate Change score of A-, placing PACCAR in the top 15% over 9,500 companies that published reports to the CDP. 100% of PACCAR's manufacturing locations globally have environmental management program certified under ISO 14001.
Harrie Schippers will now provide an update on PACCAR Parts, PACCAR Financial Services and other business highlights. Thank you. Harrie, over to you.