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News: As per media sources, North American Class 8 net orders in February totalled 17,000 units, reflecting a decline of 31% MoM & 38% YoY. This figure was below seasonal expectations, falling short of the seven-year February average of ~27,000 units. TTM Class 8 orders totalled 2.7 lakh units.
View: With looming threats of tariffs among the North American trading partners and increasing uncertainty for market participants, US class 8 net orders are on a significant declining trend. This is negative development for the domestic forging industry which are witnessing subdued growth prospects from international markets especially catering to the CV domain. This is sentimentally negative for Indian forging players such as Bharat Forge, Ramkrishna Forgings among others.
Impact: Negative