content_image/144858.jpg
## Financial Services 

<img src='content_image/144858.jpg'>

In 2011, new loan and lease volume increased 64% to $4.06 billion from $2.48 billion in 2010, reflecting increased new PACCAR truck sales, increased finance market share and a higher average amount financed per unit. PFS increased its finance market share on new PACCAR trucks to 31% in 2011 from 28% in the prior year. 

The increase in PFS revenues to $1.03 billion in 2011 from $.97 billion in 2010 primarily resulted from higher average earning asset balances and the impact of stronger foreign currencies, partially offset by lower yields. PFS income before income taxes increased to $236.4 million in 2011 compared to $153.5 million in 2010 primarily due to higher finance and lease margins as noted below and a lower provision for losses on receivables. 

