Hyderabad, May 05: India’s mobility and logistics sector witnessed relatively stable trucking activity during April, following the strong momentum seen at the close of the financial year. Truck rentals across key trunk routes remained firm, with marginal month-on-month changes and continued resilience on a year-on-year basis.
On a month-on-month basis, trends remained mixed. Rentals increased on key routes such as Delhi–Kolkata–Delhi by around 2.4% and Kolkata–Guwahati–Kolkata by about 2%, along with Delhi–Mumbai–Delhi, Mumbai–Chennai–Mumbai and Bengaluru-led corridors that recorded modest increases. However, select routes including Mumbai–Kolkata–Mumbai and Delhi–Bengaluru–Delhi witnessed marginal declines, reflecting softer demand in certain pockets. On a year-on-year basis, trucking activity remained resilient across major routes, led by Delhi–Kolkata–Delhi at around 12%, followed by Bengaluru–Mumbai–Bengaluru and Mumbai–Chennai–Mumbai at about 10% each, while Delhi–Mumbai–Delhi grew by nearly 9%, indicating sustained long-haul demand.
Fuel consumption trends reflected this cooling in activity. Petrol consumption declined by about 3% month-on-month, while diesel consumption fell by nearly 5%, indicating relatively lower freight movement.
Vehicle sales trends remained mixed in April, with strength in select segments and sequential moderation in others. Bus and maxi cab sales rose by around 9% and 7% month-on-month, respectively, driven by sustained passenger mobility demand, while e-rickshaws continued to see steady growth. However, passenger vehicles, two-wheelers, and agriculture-linked and freight-oriented segments witnessed a seasonal softening following March’s high base.
Electric vehicle (EV) trends remained structurally strong despite a high base effect. Electric three-wheelers grew by around 5% month-on-month, driven by continued adoption in commercial and last-mile segments. While electric two-wheelers and passenger vehicles saw a sequential dip, this was largely due to March’s elevated base. On a year-on-year basis, growth remained robust across segments, with two-wheelers, three-wheelers, and passenger vehicles rising by 69%, 106%, and 125%, respectively, underscoring sustained expansion.
Air cargo trends provided a broader macro perspective, indicating steady year-on-year growth in logistics activity. Freight movement across key airports remained strong, with Chennai recording growth of over 11%, followed by Hyderabad at nearly 10% and Bengaluru at close to 6%. Passenger traffic also remained robust in markets such as Bengaluru and Hyderabad, reflecting continued strength in economic and travel activity, even as trends varied across cities.
Commenting on the trends, Sudarshan Holla, Joint Managing Director & Chief Operating Officer – Commercial Vehicles, Shriram Finance, said, “The fiscal year has seen a stable start, with truck rentals holding firm. Peak summer heat, however, could affect trucking activity in May. Further, transport associations have announced a three-day token “chakka jam” beginning May 21 in Delhi, protesting higher environmental charges and the proposed ban on BS‑IV trucks from November 1, while seeking government intervention.”
Macro indicators further pointed to a softening in movement. FASTag collections declined by around 1% in volume and over 2% in value on a month-on-month basis, suggesting lower highway traffic and freight flows compared to March.
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