Used Commercial Truck Prices Accelerate in June 2024 – Shriram Mobility Bulletin

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Hyderabad, July 10, 2024: The July 2024 edition of the Shriram Mobility Bulletin, released today, provides insightful data on the current state of the automobile and logistics sector. Motor car sales saw a decline of 9%, while fuel consumption for petrol and diesel dropped by 5% in June 2024, although year-over-year (YoY) consumption increased by 4% and 1%, respectively. Truck rentals experienced a 2.6% decrease on the Mumbai-Kolkata-Mumbai route but saw a 4.1% increase on the Kolkata-Guwahati-Kolkata route. Sales of used commercial vehicles grew on a YoY basis, with a rise of 7% for 7.5 to 16-ton capacity vehicles and 43% for 31 to 36-ton capacity vehicles. FASTag toll collections rose by 2% in volume and 7% in value on a YoY basis. Additionally, the generation of e-way bills showed a month-over-month (MoM) increase of 8% for intra-state and 5% for inter-state transactions for the month of May.

Mr. YS Chakravarti, MD & CEO of Shriram Finance Ltd. speaking about the June 2024 Mobility Bulletin said, “With the new government in place and with monsoon rain expected to gain strength, businesses are hopeful that policy action from the government will help push economic activity into a higher orbit. The slowdown across sectors including road transport, vehicle sales appears temporary.”

Shriram Finance Limited also believes that the ongoing Kharif season, which will head towards harvest by mid-August could boost the sales of Agricultural, Trailer and Commercial Tractors.