Truck rentals have slumped by three to four per cent during May. This is the second consecutive month in this fiscal that rentals have dropped. The drop is attributed to more than 10 per cent decline in dispatches from the manufacturing sector.
According to a report by the Indian Foundation of Transport Research and Training (IFTRT), “the increase in compensatory load from wheat procurement and increased arrival of mango and other summer fruit and vegetable crops have not been enough to stem the decline” in rentals.
“In the present circumstances, there seems to be very little hope that truck rentals will recover before September 2012,” IFTRT predicts.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.