Truck Rentals Surge as Festive Season Approaches, Srinagar Sector Looks Up, Indo-Bangla Border Reopens: Shriram Mobility Bulletin

Mumbai (Maharashtra) [India], September 16: Truck rentals persevered their upward fashion in August 2024, marking the second consecutive month of boom, as in step with the state-of-the-art Shriram Mobility Bulletin. The festive season’s technique, coupled with expanded submit-election activities, has considerably pushed calls for numerous transportation routes.

Notably, fleet usage within the India-Bangladesh border location noticed a good-sized development, growing to nearly 60% from the previous forty. The resumption of alternate sports between India and Bangladesh has specifically expanded truck leases in the Kolkata-Guwahati-Kolkata path, registering the highest surge at three.0%.

The Delhi-Kolkata-Delhi and Delhi-Hyderabad-Delhi routes also witnessed increases of 2.7% and a pair of.3%, respectively. Apple harvest and ballot certain pastimes pushed up freight rates in the Srinagar vicinity. Freight prices rose by way of nearly 10% in August, in this vicinity. The Wayanad place experienced an upward thrust in freight quotes because of a reduced number of vehicles, a lot of which are engaged in rehabilitation work.

Motor car sales have witnessed a 6% decline in income with 280,151 units offered in August 2024 compared to 297,623 units in July 2024. The drop in income is attributed to excessive rainfall, which affected showroom visits in Gujarat, Andhra Pradesh, and Tripura. In evaluation, Goa, Kerala, and Haryana saw growth in car sales.

Also Read:- Transportation into the Future: Tata Motors is Spearheading Innovation in the Transportation Sector

In the two-wheeler segment, income reduced in size by eight month-on-month in August 2024. However, year-on-12 months sales rose by 6%, fuelled with the aid of anticipation of the upcoming festive season.

The used business automobile (UCV) marketplace confirmed a healthful year-on-yr boom throughout all weight classes. Prices for 31 to 36-ton four-wheeler UCVs elevated with the aid of as a whole lot as 12%, while the three.Five to 7. Five-ton class noticed an 11% price growth.

In August 2024, petrol intake rose by 2% month-on-month, reflecting an 8% boom as compared to the equal duration remaining yr. However, diesel intake declined with the aid of 10% month-on-month, totaling 6.48MT. Toll collections saw a slight month-on-month boom, with a 7% 12 months-on-year increase in volume and an eight% upward thrust in price. Electric two- and 3-wheelers registered a decline of 26% and three YOY respectively. E-manner invoice generation experienced a month-on-month boom in July 2024.

Shriram Finance Limited is the flagship enterprise of the Shriram institution which has a large presence in Consumer Finance, Life Insurance, General Insurance, Housing Finance, Stock Broking, and Distribution businesses. Shriram Finance Limited is one of India’s largest retail asset financing Non-Banking Finance Companies (NBFC) with Assets under Management (AUM) above Rs. 2.33 trillion. Established in 1979, Shriram Finance is a holistic finance issuer catering to the desires of Small Road Transport Operators and small enterprise owners and is a frontrunner in prepared financing of pre-owned industrial cars and -wheelers. It has a vertically incorporated enterprise model and offers a financing quantity of products which encompass passenger industrial cars, loans to micro and small and mediorganizationsons (MSMEs), and tractors.

Source By:- https://www.business-standard.com/