There was a positive recovery in truck rentals across India’s logistics and mobility ecosystem with steady freight rates, rising digital toll collections, and sustained momentum in electric vehicle adoption, even as weather disruptions impacted trucking activity in Northern India, especially in the states of Punjab, Himachal Pradesh and Uttarakhand, says the September edition of Shriram Mobility Bulletin.
The festive season is around the corner and with that the movement of goods to different parts of the country to meet consumer demand has resulted in truck rentals showing signs of recovery on key trunk routes.
On a month-on-month (MoM) basis, Bengaluru-Mumbai-Bengaluru increased by 1.5 per cent, Delhi-Kolkata-Delhi grew by 1.3 per cent, and Guwahati-Mumbai-Guwahati grew by 1.1 per cent. However, prolonged rains in northern India hampered trucking activity in Punjab, Himachal Pradesh, and Uttarakhand, the bulletin says.
Vehicle retail sales in August 2025 reflected a mixed performance across categories. With the monsoons coming to an end, infrastructure development activities are expected to gain momentum which is reflected in the 7 per cent MoM growth in Earth Moving Equipment sales. The movement of goods to meet the upcoming festive demand has resulted in a 2 per cent MoM growth in the sales of Goods Carriers and the Kharif harvest has led to a 4 per cent MoM growth in agricultural trailers, says the bulletin.
On the other hand, on a MoM basis, car sales dipped by 3 per cent; two-wheeler sales showed only a modest 1 per cent growth, and commercial tractor sales saw a steep decline of 29 per cent. Sales of maxi cabs and e-rickshaw carts also dropped by 14 per cent and 9 per cent respectively, reflecting a generally cautious and subdued mood among buyers. However, with the revision in GST rates, the upcoming festive season, and other positive developments, there’s hope that vehicle sales across all categories will pick up in the coming months.
The electric vehicle (EV) segment sustained its strong momentum in August 2025, driven by rising consumer demand. Electric four-wheelers led the growth, with a 14 per cent MoM growth, underscoring their growing adoption for urban mobility. E-2 wheelers posted a modest 1 per cent MoM rise, while E-3 wheelers sales dipped by 3 per cent MoM, says the bulletin.
YS Chakravarti, CEO and Managing Director, Shriram Finance Ltd. said, “Truck rentals remained steady to firm with manufacturers moving goods to commercial hubs in a build up to the upcoming festival season. Early indications from Kerala suggest that we are heading for a significant jump in Onam (start of Indian festival season) consumption which is a good augury. However, there are issues of stagnation at some export hubs due to import tariffs by US.”
Published on September 5, 2025
