Class 8 truck orders in North America witnessed a gain in May, after seeing a decline in the previous two months. According to the FTR Intel for class 8 trucks, the orders in May increased 15,500 units, a 10 percent growth from last year and 29 percent from April.
Orders in January slumped had for the fourth straight month after reaching a record high of 56,205 units in September last year.
‘Same dealer Class 8 retail truck sales slowed in April, pulling back 23 percent from March. While sales normally decelerate in April, the decrease was greater than the expected 8-10 percent,’ said Steve Tam, vice-president at ACT Research.
Bharat Forge is one of the major companies in India that has a direct impact of movement in class 8 trucks. It is a leading player in the forging industry. The company serves in several sectors including automobile, power, oil and gas, rail and marine, aerospace and efence, construction, mining, etc.
The company reported a strong set of earnings in March, albeit below Street estimates. Its management said the order wins provided strong visibility for revenue growth for the coming two to three years. Shares of the company are trading 1 percent higher in pre-opening and are nearly 9 percent down this year.
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