Speaking to CNBC-TV18 Baba Kalyani, CMD, Bharat Forge , said that the worst of North America truck orders is behind us. “A part of it is because of inventory correction and holidays are also over,” Kalyani said, adding that if this sales is sustained in the next couple of months, we will see a stronger truck market coming up. “Overall I am happy to see this numbers.” Class 8 net orders in trucks for August came in at 14,000 units, slightly above expectations and a 36 percent improvement over July. However, the class 8 order activity for August was the weakest for that month since 2010 and down 35 percent from August 2015. Class 8 orders for the last twelve months have totalled 206,000 units. About 30 percent of Bharat Forge's revenues comes from North America’s truck market. Kalyani estimats that for this fiscal year, the sales of trucks is based on 210-220,000 class 8 truck orders. Part of it will come backlog and a part of it from order inflows. He did say that the sales will be 30 percent lower than before. “We have to watch numbers in September, October and November. We will wait and watch.” Not commenting on markets for new commercial vehicle sales in North America, he said: “We are trying to increase the value we supply to every vehicle.”
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