A new report released highlighted the ease of truck rental in October. Truck rentals on the Mumbai-Kolkata-Mumbai route dipped 2.1 per cent, Bengaluru-Mumbai-Bengaluru route 1.6 per cent and Delhi-Bengaluru-Delhi 1.4 per cent on a month-on-month basis. Rentals on most other key routes stayed almost unchanged, according to the Shriram Mobility report published the Shriram Group.
Despite the ease in truck rentals the festive season saw high vehicle sales as new passenger vehicles and two wheeler increased 76 % and 72 % from the month before. In the EV segment , two wheeler and passenger car sales increased
24% and 28% from the month before.
“A combination of factors, including aggressive festive discounts manufacturers and attractive schemes, ensured that October provided a much-needed boost for vehicle sales, particularly for two-wheelers and passenger cars,” said Y S Chakravarti, managing director and chief executive officer of Shriram Finance.
“It was also a month where truckers saw a slight cooling in rentals and fleet occupancy, which typically happens after the big Diwali push. The outlook remains positive as large parts of the country enter the wedding season, which is expected to further drive vehicle sales,” he said.