Homevideos Newsauto News

Surge in class 8 truck orders: Expect 25% growth if market condition persists, says GNA Axles

videos | IST

Surge in class 8 truck orders: Expect 25% growth if market condition persists, says GNA Axles

Mini

Speaking in an interview to CNBC-TV18, Ranbir Singh, president and CEO of GNA Axles said, “The demand in February was 200 percent regarding class 8 and other commercial vehicles in North America as compared to last year’s class 8 segment. Therefore, we have good visibility for this calendar year for all commercial vehicles from North America and Europe.”

North America class 8 truck orders surge in the month of February, coming in at 43,000 units. This is the fifth consecutive month which has seen a surge in terms of orders over 40,000 units.

GNA Axles, the leading manufacturers of rear axle shafts used in on-highway and off-highway vehicular segments, said that the overall demand, not only the North American segment, is very strong.
Speaking in an interview to CNBC-TV18, Ranbir Singh, president and CEO of the company said, “The demand in February was 200 percent regarding class 8 and other commercial vehicles in North America as compared to last year’s class 8 segment. Therefore, we have good visibility for this calendar year for all commercial vehicles from North America and Europe.”
On growth, he said, “We won’t be able to surpass our 2020 sales but we are trying to match the numbers. So in 2022, if the markets of North America, Europe and domestic will continue to be the same then we expect minimum 25 percent growth in the coming financial year.”
For full management commentary, watch the video
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!

Most Read

Market Movers

View All
Top GainersTop Losers
CurrencyCommodities
CompanyPriceChng%Chng