Bharat Forge * India: Orders for these trucks fell 23 per cent YoY
* Pune - Bharat Forge faces weak Class 8 Truck order sales in US
Bharat Forge, a Pune-based company with interests in heavy vehicles and defence equipment, faces bleak prospects in the US where it sells its Class 8 trucks and earns about a fifth of its revenues. In December 2016, orders inflows for these trucks fell 23 per cent YoY, according to the Freight Transportation Research (FTR)... Order inflows for Class 8 trucks in North America dropped to 21,200 units last December YoY, though there was an increase of 10 per cent when compared to November 2016 due to the seasonality factor, Nomura analysts said in a note on Monday, citing preliminary FTR data... The company's revenues from domestic medium and heavy commercial vehicle sales, which generates about 17 per cent revenues on a standalone basis, are also bleak. Revenues from new business lines comprising railways and aerospace are negligible to offset the main streams of sales...
(Representational image/Reuters file - A truck arrives through the tunnel at the Port of Miami in Miami, Florida, U.S., May 19, 2016) - Mundhwa, Pune, Maharashtra, India - IBT, by s v krishnamachari - January 9, 2017
Labels: truckmakers news India