Chennai, May 11 – Despite a nationwide increase in toll prices, truck rentals on most routes remained relatively subdued in April 2025, according to a monthly report from Shriram Mobility. The report highlighted that while the goods movement sector saw a rise in activity, particularly with the transportation of fruits, overall truck rental prices showed limited growth.
Freight Market Shows Positive Trends in Some Areas
The report, prepared by Shriram Finance Ltd – the flagship company of the Shriram Group – revealed that truck rentals experienced healthy year-on-year growth. For instance, the Kolkata-Guwahati-Kolkata route saw a 14 percent increase, while the Mumbai-Chennai-Mumbai corridor rose by 8 percent. However, despite the toll hikes implemented on April 1, 2025, truck rentals remained largely unchanged on most major routes."Truck rentals remained subdued during April despite a 5 to 10 percent increase in toll charges from April 1," said Y S Chakravarti, CEO and Managing Director of Shriram Finance Ltd. He noted that while rental prices remained stable, the overall freight market showed slight improvement, largely due to increased goods movement during the just-concluded Rabi season.
Variations Across Routes and Future Outlook
The Delhi-Chennai-Delhi route stood out with a month-on-month increase of 2.5 percent, while the Delhi-Bangalore-Delhi route saw a decrease of 1.6 percent. Although the market showed some positive trends, there were concerns about the impact of predicted summer heat waves on trucking activity, which could potentially disrupt the industry in the coming months.Two-Wheeler and Electric Vehicle (EV) Market Performance
The report also provided insights into the performance of various vehicle segments. Two-wheeler sales rose by 12 percent in April, driven by strong rural demand and improved connectivity. Sales of buses grew by 4 percent, while electric three-wheeler sales increased by 5 percent.However, the electric vehicle (EV) market showed some mixed results. EV two-wheeler sales saw a significant decline of 30 percent, and EV passenger car sales dropped by 4 percent. On a year-on-year basis, EV passenger car sales surged by 58 percent, electric three-wheelers grew by 49 percent, and two-wheelers saw a 40 percent increase.
Fuel Consumption Trends
In terms of fuel consumption, the report indicated that petrol consumption declined by 2 percent in April, while diesel consumption increased by 2 percent. This growth in diesel usage was attributed to higher industrial, mining, and commercial activity, reflecting the continued demand in these sectors.This comprehensive study by Shriram Finance Ltd offers a crucial snapshot of the ongoing trends in India's logistics and automobile sectors, providing valuable insights to industry stakeholders.