US Class 8 orders witness stellar uptick in September 2022
As per media sources, US Class 8 truck net orders for September 2022 came in at 56,500 units, up 169% MoM & 102% YoY, with total orders in the last 12 months totalling 254,000 units.
US Class 8 truck orders witnessed a healthy recovery on an MoM basis and comes as a big positive surprise given the muted economic growth environment in developed countries like the US. With a significant order backlog in this space (>six months waiting period), the revival in new truck order numbers bodes well for domestic forging companies serving this space viz. Bharat Forge, MM Forging and Ramkrishna Forgings.