Mumbai: Freight and logistics activity remained stable in January, supported by the onset of the Rabi harvest season and increased inter-regional movement of agricultural produce.
Truck Rentals activity remained steady across major corridors despite seasonal adjustments in freight demand.
Truck Rentals Reflect Stable Freight Activity Across Key Routes
On a year-on-year basis, the Delhi-Mumbai-Delhi route recorded the highest growth at 12%.
Meanwhile, the Delhi-Kolkata-Delhi, Mumbai-Chennai-Mumbai, Bengaluru-Mumbai-Bengaluru, and Kolkata-Guwahati-Kolkata routes each registered growth of around 10%.
The agricultural harvest cycle contributed to sustained trucking movement across regions, helping maintain operational momentum in logistics networks.
- Electric vehicle adoption continued to strengthen across segments. Demand for electric two-wheelers remained resilient due to consistent urban commuting needs and improving product reliability.
- Electric car sales also benefited from wider model availability and growing consumer confidence in EV ownership.
- On a month-on-month basis, electric two-wheeler sales increased by 26%, while electric motor car sales rose by 29%, indicating sustained growth in EV adoption.
- Passenger vehicle sales remained strong in January, supported by robust demand for SUVs and resilient consumer confidence.
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At the same time, continued requirements for last-mile delivery and utility transport supported healthy retail sales in the light commercial vehicle segment.
However, bus retail volumes moderated during the month due to slower fleet replacement cycles, resulting in lower purchases.
- Motor car sales recorded a sharp 37% month-on-month increase, reflecting improved consumer sentiment and stronger showroom conversions.
- Goods carriers and three-wheeler goods vehicle sales also expanded significantly, growing by 37% and 33% respectively, highlighting sustained demand in freight and last-mile logistics.
- Commercial construction equipment sales rose by 22% month-on-month
- Earth-moving equipment sales surged by 44%, driven by continued investments in highways, urban infrastructure, logistics parks, and industrial corridors.
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Sudarshan Holla, Joint Managing Director & Chief Operating Officer, Commercial Vehicles, Shriram Finance said, “Truck rentals were flat in January following a strong pickup in the previous quarter. Following the announcement of the Indo US trade pact, we expect vehicular movement to pick up across key export hubs and ports.
Rising temperatures should also restore normal logistics activities in the Himalayan region. However, transport operators note that geopolitical tensions along the Indo Bangla border continue to disrupt goods movement. As we enter the peak quarter, we expect overall normalcy to return to the transport sector.”
