US Class 8 truck orders witness healthy uptick MoM
News: As per media sources, new US Class 8 truck orders for August 2022 came in at 21,400 units vs. 10,600 units in July 2022 (2x MoM, down 46% YoY).
View: US Class 8 truck witnessed a healthy recovery on an MoM basis. Healthy ordering is expected to sustain in the near term. With significant order backlog in this space (more than 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.