The stock of the Bellevue maker of Kenworth and Peterbilt trucks slumped to its lowest level in more than four years, tumbling $3.15, or 10.5 percent, to $26.82 Tuesday. That was also the biggest percentage decline in more than four years.

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/ Paccar said dwindling global demand for trucks not only trimmed its third-quarter results but will reduce earnings through 2009 and force it to cut production at its Dutch unit.

The stock of the Bellevue maker of Kenworth and Peterbilt trucks slumped to its lowest level in more than four years, tumbling $3.15, or 10.5 percent, to $26.82 Tuesday. That was also the biggest percentage decline in more than four years.

The company’s third-quarter profit fell 1.1 percent to $299 million, and a drop in demand in North America, Europe and Australia “will reduce financial results” this quarter and into 2009, Chief Executive Officer Mark Pigott said, without providing details.

Paccar’s fifth profit decline in six quarters follows an industrywide 13 percent slide in European Union heavy-truck sales in August as a credit crunch reduced demand.

Paccar made 53 percent of its revenue in Europe last year, and gains in that region had until now helped cushion declines in the U.S.

Earnings will be hurt by a “significant slowdown in the European and U.S. heavy-truck markets exacerbated with the financial crisis,” said Kristine Kubacki, an analyst at Avondale Partners. “The first-time buyer is being squeezed out of the market.”

Paccar’s Dutch-based DAF Trucks unit is reducing its build rate this month, Aad Goudriaan, president of the division, said a statement.

Paccar lowered its 2008 forecast for industrywide European heavy-truck sales to 340,000, down from a July estimate of 350,000 to 360,000. European sales may decline to 260,000 to 300,000 next year, Goudiaan said.

“After robust growth for a number of years, the European economy and truck markets are now slowing,” Goudriaan said.

The company also reduced its forecast for 2008 U.S. and Canada sales to 150,000, down from an estimate of 150,000 to 165,000 the company forecast in July.

Paccar posted third-quarter earnings of 82 cents a share on a 6.5 percent gain in revenue from truck sales and financial services to $4 billion.

Excluding some items, analysts expected earnings of 87 cents a share, the average of nine estimates compiled by Bloomberg.

Analysts predict earnings on that basis will fall to $3.70 a share in 2009, from $3.38 this year, according to the average of 10 estimates compiled by Bloomberg.