Hyderabad, 06 May 2026: India’s mobility and logistics sector witnessed relatively stable trucking activity in April, following the strong momentum seen at the end of the financial year. Truck rentals across key trunk routes remained firm, showing marginal month-on-month changes and continued year-on-year resilience.
On a month-on-month basis, trends were mixed. Rentals increased on key routes such as Delhi–Kolkata–Delhi (around 2.4%) and Kolkata–Guwahati–Kolkata (about 2%), along with corridors like Delhi–Mumbai–Delhi, Mumbai–Chennai–Mumbai, and Bengaluru-linked routes, which recorded modest gains. However, select routes including Mumbai–Kolkata–Mumbai and Delhi–Bengaluru–Delhi saw marginal declines, reflecting softer demand in certain pockets.
On a year-on-year basis, trucking activity remained strong across major routes, led by Delhi–Kolkata–Delhi at around 12%, followed by Bengaluru–Mumbai–Bengaluru and Mumbai–Chennai–Mumbai at about 10% each. Delhi–Mumbai–Delhi also grew by nearly 9%, indicating sustained demand in long-haul freight movement.
Fuel consumption trends reflected a moderation in activity. Petrol consumption declined by about 3% month-on-month, while diesel usage fell by nearly 5%, indicating reduced freight movement during the period.
Vehicle sales showed mixed performance in April, with strength in select segments and sequential moderation in others. Bus and maxi cab sales rose by around 9% and 7% month-on-month, respectively, supported by steady passenger mobility demand, while e-rickshaws continued their growth trajectory. In contrast, passenger vehicles, two-wheelers, and agriculture- and freight-linked segments witnessed seasonal softness after a high base in March.
Electric vehicle (EV) trends remained structurally strong despite base effects. Electric three-wheelers grew by around 5% month-on-month, driven by continued adoption in commercial and last-mile mobility. While electric two-wheelers and passenger EVs saw sequential declines, this was largely due to a high base in March. On a year-on-year basis, EV growth remained robust, with two-wheelers, three-wheelers, and passenger vehicles rising by 69%, 106%, and 125%, respectively.
Air cargo trends indicated steady year-on-year growth in logistics activity. Freight movement across key airports remained healthy, with Chennai recording over 11% growth, followed by Hyderabad at nearly 10% and Bengaluru at close to 6%. Passenger traffic also remained strong in cities such as Bengaluru and Hyderabad, reflecting sustained economic and travel activity despite regional variations.
Commenting on the trends, Sudarshan Holla, Joint Managing Director & Chief Operating Officer – Commercial Vehicles, Shriram Finance, said, “The fiscal year has started on a stable note, with truck rentals holding firm. However, peak summer heat may impact trucking activity in May. Additionally, transport associations have announced a three-day token ‘chakka jam’ from May 21 in Delhi, protesting higher environmental charges and the proposed ban on BS-IV trucks from November 1, while seeking government intervention.”
Macro indicators also pointed to softer movement. FASTag collections declined by around 1% in volume and over 2% in value on a month-on-month basis, suggesting lower highway traffic and freight flows compared to March.
About Shriram Finance Limited:
Shriram Finance Limited is the flagship company of the Shriram Group, with a strong presence across consumer finance, life and general insurance, stock broking, and distribution businesses. It is among India’s largest retail asset financing Non-Banking Finance Companies (NBFCs), with Assets Under Management (AUM) exceeding ₹3.02 trillion. Established in 1979, the company serves as a comprehensive financial solutions provider, primarily catering to Small Road Transport Operators and small business owners. It is a market leader in the organized financing of pre-owned commercial vehicles and two-wheelers. Shriram Finance operates a vertically integrated business model and offers a wide range of financial products, including financing for passenger and commercial vehicles, loans for micro, small and medium enterprises (MSMEs), tractors and farm equipment, gold loans, personal loans, and working capital financing. Over the past 47 years, the company has built strong expertise in loan origination, valuation of pre-owned vehicles and other assets, and collections. With a pan-India presence, Shriram Finance operates through a network of 3,225 branches and a workforce of 76,241 employees, serving over 9.73 million customers.
