Class 8 truck sales sink to lowest in decade; Bharat Forge down 0.3%

The industry is seeing a record backlog and has trimmed production which has led to thousands of job losses.

Jan 06, 2020 10:01 IST India Infoline News Service

North American Class 8 trucks
Orders of new Class 8 trucks slumped to their lowest level in a decade in 2019 owing to a weakening economy and a larger base in 2018.

Truck orders fell in December 2019 vs. December 2018, however, bookings were up 14% MoM, according to ACT Research.

The industry is seeing a record backlog and has trimmed production which has led to thousands of job losses.

Bharat Forge Ltd, which manufactures class 8 trucks, is currently trading at Rs484.75 down by Rs1.8 or 0.37% from its previous closing of Rs486.55 on the BSE.

The scrip opened at Rs491 and has touched a high and low of Rs491 and Rs484 respectively. So far 6,10,495 (NSE+BSE) shares were traded on the counter.

The current market cap of the company is Rs22,653.21cr.

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