Mumbai

Truck rentals, after staying firm during the pre-festive period, have eased off in the month of October  said Shriram mobility bulletin. Fleet utilization, which can be cyclical in nature, typically sees a surge in a pre-festive season due to goods movements by manufacturers. This surge gradually eases off and returns to more normal levels. Truck rentals on the Mumbai-Kolkata-Mumbai route saw a 2.1% dip, Bengaluru-Mumbai-Bengaluru route dipped by 1.6% and Delhi-Bengaluru-Delhi route dipped by 1.4% on a month-on-month basis. Rentals on most other key routes stayed almost unchanged.

However, while the truck rental eased off, the festive period provided a boost to vehicle sales and despite high inventory levels during previous months, October 2024 saw substantial growth in vehicle sales. In the month of October, sales of new passenger vehicles and two-wheelers surged by 76% and 72% on a month-on-month basis and 24% and 37%, respectively, on a year-on-year basis. The EV segment also saw Two-wheeler and Passenger Cars sales grow by 24% and 28% on a month-on-month basis added the bulletin.