Shares of Bharat Forge Ltd were trading 2% lower on 3 May after Class 8 truck orders in North America fell to their nine-month lowest.

According to data, Class 8 truck orders in North America decreased by 18% month over month in April and reached their lowest position since July 2023. Orders for Class 8 trucks in North America have decreased for the eighth consecutive month.

Between March and April, Class 8 truck orders in North America fell from 18,200 units to 14,400 units.

Furthermore, class 8 truck orders have remained below 20,000 units for the last two months after falling below that mark in March for the first time since August 2023.

The defence-to-auto component provider Bharat Forge is available in the North American market for class 8 trucks.

In November of last year, Bharat Forge Chairman Baba Kalyani said in an interview with CNBC-TV18 that the company has noticed a big improvement in North American truck orders and that it is currently going through a significant transformation period to go from components to products.

At 3:30 pm, the shares of Bharat Forge closed 1.88% lower at Rs 1,250.35 on NSE.