Shriram Mobility Bulletin January 2025 Reports A Significant Trucking Activity In Prayagraj Region

As per the latest Shriram Mobility Bulletin, the Indian market witnessed a significant growth of 58% YoY in the retail sales of e-rickshaws with carts during December 2024.

Key Highlights

• In the goods carrier category, the Indian market sold 56,083 units in December 2024 as opposed to 60,792 units in December 2023, indicating an 8% YoY drop in retail.
• With sales of 9,121 units in December 2024 compared to 9,546 units in December 2023, the retail of 3-wheelers (goods) saw a 4% YoY decline in sales.
• In the Prayagraj region, truck traffic has increased by 30-40% as a result of the Maha Kumbh preparations.

Shriram Finance released the monthly mobility bulletin for January 2025 to highlight the truck rental rates in major truck routes, fuel consumption, FASTag collection, and commercial vehicles including electric vehicles retail sales. Due to holiday travel in December 2024, there was an increase in FASTag collections with 381.98 million in volume, reflecting 10% YoY growth.

Related Link: Shriram Mobility Bulletin Shows Sharp Drop In Truck Movements In November 2024

Commercial Vehicle Retail Sales In December 2024

In the category of goods carrier, the Indian market reported a sales decline of 8% YoY by selling 56,083 units in December 2024 compared to 60,792 units in December 2023. A similar sales drop of 4% YoY was registered in the retail of 3-wheelers (goods) during December 2024. 

A total of 9,121 units of 3-wheelers (goods) were sold in December 2024 compared to 9,546 units in December 2023. In December 2024, the electric 3-wheeler segment recorded an 11% YoY sales decrease, selling from 51,583 units to 57,652 units in December 2023.

According to Shriram Mobility Bulletin January 2025, the Indian market witnessed a significant retail growth of 58% YoY in December 2024, selling 5,826 units of e-rickshaws with carts as opposed to 3,692 units in December 2023. The commercial tractor category saw an 11% YoY sales drop with 5,470 units in December 2024 compared to 6,127 units in December 2023.

Steady Truck Rentals In December 2024

Considering the round-trip rentals for 18-tonne payload trucks, the major Indian truck routes like Delhi-Kolkata, Delhi-Chennai, Mumbai-Chennai, and Kolkata-Guwahati observed rental rebounds by 0.7%, 0.5%, 1.3%, 1.5%, respectively. Overall, the truck rentals remained steady in this period. Seasonal agricultural transport was the main driver of India's truck rental recovery in January 2025. 

Official Insights From Shriram Finance

Y. S. Chakravarti, MD and CEO, Shriram Finance, said, “December 2024 marked a tepid yet stable period for India’s trucking and mobility sector. While truck rentals on major trunk routes remained steady, fleet occupancy levels continued to remain subdued. The upcoming Maha Kumbh Mela in Prayagraj is driving a surge in trucking demand to that region, but restrictions during the event, until February 26, 2025, may temper this momentum. However, the Rabi harvest season and increase in infrastructure development have spurred sales of agricultural tractors and earth moving equipment.”

Challenges Faced By The Trucking Industry

Due to preparation for the Maha Kumbh, there is a 30-40% increase in truck movement in the Prayagraj region. However, vehicle traffic and diesel usage were affected by a nationwide cold wave. Continued entry restriction of BS3 and BS4 diesel vehicles into Delhi-NCR impacted logistics activity. Despite these challenges, there is a good forecast for the upcoming months, and further progress is anticipated.

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