Truck freight rates on highways remained flat in September 2024, supported by strong freight flows from pre-festival inventories. According to Shriram Bulletin, aircraft availability has increased from 70% to 90%.
On the Delhi-Mumbai-Delhi route, rental rates for an 18-tonne truck increased marginally by 0.7% to Rs 153,000 from Rs 152,000 in August.
Similarly, the Mumbai-Chennai-Mumbai route also saw an increase of 0.7%, with fares increasing to ₹151,000. While the Delhi-Kolkata-Delhi route has kept its fares at Rs 150,000, the Bengaluru-Mumbai-Bengaluru route has seen a 1.6% increase in fares to Rs 127,000.
“Ahead of the holiday season, strong cargo demand has pushed aircraft utilization to 90 percent, the highest level in some time.However, truck owners are struggling with increased freight costs due to rising tire prices and tolls. We are wary of possible price hikes.Ship operators are also seeking reduction in fuel prices, which could help cushion these price hikes,” said Shriram Finance Ltd MD and CEO. said YS Chakravarti, CEO.
Prices are rising slightly in the used commercial vehicle (UCV) market as expectations for the government’s automobile scrappage policy increase. The 1.5-2 tonne category recorded a significant 21% year-on-year increase, while the 7.5-16 tonne category recorded a 12% increase. However, the 16-19 tonne category faced a 16% decline.
In the used passenger vehicle market, models such as Maruti Baleno and Maruti Gilet showed positive sales growth of 8% and 7% YoY, respectively, while other segments continue to be under downward pressure. A similar trend was observed in the used two-wheeler market, with most brands seeing a decline.
Demand for commercial vehicles increases as the Christmas season approaches, reflecting increased sales of goods transport vehicles, electric rickshaws with carts, and tricycles (goods).
It further added that the increase in sales of construction and earth-moving machinery indicates an increase in infrastructure development activities post-monsoon.
