Truck rentals have remained largely unchanged in the first quarter of 2024, riding on robust economic activity and the year-end push to meet stock-up delivery commitments. This has been despite a Rs 2 reduction in diesel prices in March. According to Shriram Mobility Bulletin, truck rentals on trunk routes like Delhi-Mumbai-Delhi and Delhi-Hyderabad-Delhi have remained unchanged for three months.
On trunk routes where there has been a change, the deviation is minimum. For example, on the Mumbai-Chennai-Mumbai route, the change is just Rs 2,000 while in the Delhi-Chennai-Delhi route, it is Rs 3,500. Shriram Group officials say the rentals have held on as corporates have been pushing their year-end delivery commitments. The buoyancy in the economy is the reason why truck rentals are holding firm and among the big items being moved are summer essentials like air conditioners and refrigerators.
Chennai-based transporter Rajinder Singh, general secretary of the All India Confederation of Goods Vehicles Owners Association, said, The south is facing a very hot summer. So, demand for summer consumer durables is moving up. After a good March, April rentals are a bit dull because corporates are planning their new financial year budgets and targets, and elections are also round the corner. Arrival of fruits and vegetables in Agricultural Produce Market Committees have not taken off yet as the harvest is going on. Actual deliveries will pick up from May, he added.
