Shares of Bharat Forge Limited went down over 2 percent in the afternoon on May 3. This happened after orders for class 8 trucks in North American regions decreased to a nine-month low in April.
Numbers show that North America Class 8 truck orders declined 18 percent compared to last month in April. This was the lowest level since July 2023. Not only that, this is the fifth month in a row that truck orders have decreased in North America.
Total class 8 truck orders in North America fell to 14,400 units in April. This is lower than the 18,200 units in March. This is also the second straight month that the class 8 truck orders remained below 20,000 units. A class 8 truck is used for local or regional deliveries or as vocational vehicles like cement or garbage trucks.
They had fallen below 20,000 units for the first time since August 2023 in March.
At 1:05 PM the shares of Bharat Forge were trading 1.74% lower at Rs 1,252.10 on NSE.
