Truck freight rates on trunk routes, experienced a sequential decline of up to 2.6 per cent in May. The decrease was attributed to peak summer heat, and reduced public infrastructure activities, which led to lower fleet occupancy, and a fall in rentals.
Truck rental on the Delhi-Kolkata-Delhi round trip, on an 18-tonne payload truck, was down 2.6 per cent to ₹1,47,000 (in May, 2024), from ₹1,51,000 (in April, 2024). Delhi-Bengaluru-Delhi trip saw a marginal dip of 0.5 per cent to ₹2,09,000 from ₹2,10,000, while Bengaluru-Mumbai-Bengaluru trip rental, was down 1.6 per cent to ₹1,22,000 from ₹1,24,000, according to data provided by Shriram Mobility Bulletin.
However, a marginal increase in rates was observed on some routes such as Bengaluru-Kolkata-Bengaluru, Guwahati-Mumbai-Guwahati, and Delhi-Mumbai-Delhi.
Fleet occupancy levels dropped to around 60 per cent, the lowest in a year, as summer heat, impacted vehicle movement, it said.
In contrast, fuel sales, and FASTag collections, rose significantly in May, 2024, driven by vacationers, and election campaigners. Toll revenues increased by 6 per cent month-over-month, indicating more vehicles on the highways. Fuel consumption surged by 5 per cent month-over-month, to 3.45 million tonnes, the highest since May, 2023. Diesel consumption also rose substantially, increasing by 6 per cent month-over-month, to 8.39 million tonnes.
“The oppressive summer heat reduced fleet occupancy to 60 per cent, but, the promise of a good monsoon boosted tractor sales in May. Holiday travellers, and election campaigners, along with increased export-import activities, drove up fuel consumption, and FASTag collections. Despite a dip in public infra-activity, the demand for summer goods kept our trucks rolling,” said YS Chakravarti, MD & CEO of Shriram Finance Ltd.