Truck Rentals Flat in April Despite Toll Hikes: Shriram Mobility Report

Toll Hikes Fail to Lift Freight Rates

Truck rentals across major Indian freight corridors largely stagnated in April 2025, despite a nationwide increase in toll charges, according to the latest bulletin released by Shriram Finance Ltd under its Shriram Mobility initiative. The report offers a nuanced picture of the logistics sector, balancing muted short-term shifts with encouraging year-on-year gains.

Mixed Trends Across Key Corridors

While a few major routes demonstrated notable fluctuations, the overall market remained flat. The Delhi–Chennai–Delhi corridor witnessed a 2.5% month-on-month (MoM) increase, signaling localized demand. In contrast, the Delhi–Bangalore–Delhi route saw a 1.6% MoM decline, underscoring uneven freight activity across regions.

Year-on-Year Growth Shows Resilience

Despite short-term stagnation, year-on-year (YoY) trends were positive, with the Kolkata–Guwahati–Kolkata route recording a 14% increase, and the Mumbai–Chennai–Mumbai corridor showing 8% growth. These gains were driven by industrial activity and seasonal agricultural transport, particularly the movement of fruits.

CEO Comments on Market Conditions

“Truck rentals remained subdued during April despite a tangible increase in toll charges,” said Y S Chakravarti, Managing Director and CEO of Shriram Finance Ltd. He added, “The undercurrent, however, turned slightly better as the just-concluded Rabi season was good. With summer heat waves predicted, trucking activity could see temporary moderation.”

Automotive Market Performance

The broader automotive sector displayed varied performance. Bus sales rose 4%, suggesting a gradual rebound in the public transport segment. In April, electric three-wheeler sales rose 5%. The year-on-year data remained strong: EV three-wheelers surged 49%, indicating continued long-term adoption.

Fuel Consumption Reflects Industrial Momentum

Fuel usage trends provided further insight into economic activity. Petrol consumption fell 2%, while diesel usage rose by 2%, pointing to heightened industrial, mining, and commercial operations.

Conclusion: Report Offers Strategic Industry Insights

Compiled from a nationwide network of fleet operators and automobile dealers, the Shriram Mobility report continues to serve as a valuable tool for logistics and mobility stakeholders, offering detailed data and analysis of ongoing trends shaping the Indian freight ecosystem.

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