Bharat Forge in focus today as North America Truck sales down 72% yoy in April

Shares of Bharat Forge and Ramkrishna Forging will be in focus today. According to the ACT Research reported that 4,100 orders of new tractors for the month, 72% below the same month a year ago and down 46% from March.

This was the lowest month since September 1995 when, after accounting for cancellations, net orders were negative, ACT Research said.

Preliminary orders for Class 8 trucks fell to a 25-year low in April due to coronavirus pandemic.

Further, FTR Transportation Intelligence reported a preliminary count of 4,000 orders, 73% less than a year ago and 44% below March. FTR said Class 8 orders over the last 12 months total just 1.60 lakh units. By contrast, as recently as the summer of 2018, fleets ordered more than 50,000 trucks a month for consecutive months.

As per Kenny Vieth, ACT president and a senior analyst said that “given broadly halted economic output leading to a sharp drop in freight volumes and rates, as well as more empty miles from fragmented supply chains further impacting carriers’ profitability, a negative order number was within the realm of possibilities.”

Source: Media reports