Truck freight rates on trunk routes saw a slight increase in July after two months of decline, driven by improved cargo availability.

Manufacturers have ramped up supplies in anticipation of higher demand for the upcoming festive season. Consequently, there was a notable rise in the movement of goods from manufacturing facilities to commercial hubs.

On the Delhi-Kolkata-Delhi round trip, truck rental for an 18-tonne payload truck increased by 1.4 per cent to ₹147,000 on July 24, 2024, from ₹1,45,000 on June 24, 2024.

The Mumbai-Chennai-Mumbai trip recorded a 2.1 per cent increase to ₹148,000 from ₹145,000, while the Bengaluru-Mumbai-Bengaluru trip rental rose by 1.7 per cent to ₹122,000 from ₹120,000, according to data from the Shriram Mobility Bulletin.

The Kolkata-Guwahati-Kolkata route saw a 3.9 per cent increase, while routes like Delhi-Mumbai-Delhi, Delhi-Bengaluru-Delhi and Bengaluru-Kolkata-Bengaluru reported marginal declines.

‘Positive sentiment’

With the kharif harvest approaching and reservoirs filled due to good monsoon rains, rural activity is expected to gain momentum in the coming months. Manufacturers are also ramping up supplies to commercial hubs in anticipation of higher festive demand across product categories. “We are witnessing a positive shift in sentiment,” said Y S Chakravarti, MD and CEO of Shriram Finance Ltd.

Two-wheeler sales, which are crucial for rural transportation, are expected to perform well. Sales during the D2D (Dussera to Dhanteras) period may reach 5.4 to 5.5 million units, up from nearly 4.5 million last year, he noted.

Used commercial vehicles (UCVs) showed robust year-over-year growth across all weight categories, with prices for 2 to 3.5-tonne 4-wheeler UCVs increasing by up to 47 per cent, followed by a 36 per cent growth in the 1.5 to 2-tonne category.

While petrol consumption remained unchanged in July, diesel consumption dropped by 10 per cent compared with June 2024 levels. Similarly, intra-State and inter-State E-Way Bill generation, the number of suppliers and E-Way Bill value all decreased on a month-over-month basis in June 2024. FASTag toll collections also remained flat compared with June 2024.