Used Truck Prices Increased in June 2024, ET Auto

New Delhi: The July 2024 edition of Shriram Mobility Bulletin, released today, features data on the automotive and logistics sector. Car sales declined by 9%, while petrol and diesel consumption declined by 5% in June 2024. However, fuel consumption, on a year-on-year basis, rose by 4% in petrol and 1% in diesel. Truck rentals declined by 2.6% on the Mumbai-Kolkata-Mumbai route, but grew by 4.1% on the Kolkata-Guwahati-Kolkata route. Sales of used commercial vehicles rose year-on-year, with a 7% increase in vehicles between 7.5 tonnes and 16 tonnes and 43% in vehicles between 31 tonnes and 36 tonnes, the company said in a press release. FASTag collections grew by 2% in volume and 7% in value year-on-year. Moreover, e-way bill generation showed a month-on-month growth of 8% for intra-state transactions and 5% for inter-state transactions in May.

YS Chakravarti, Managing Director & CEO, Shriram Finance Ltd., commented on Mobility Bulletin June 2024, stating, “With the new government in place and the expected increase in intensity of monsoon rains, businesses are hopeful that the government’s policy measures will help propel economic activity to a higher orbit. The slowdown across sectors, including road transport and vehicle sales, seems to be temporary.”

Shriram Finance Limited also predicts a potential increase in sales of farm tractors, trailers and utility tractors due to the ongoing kharif season, the harvest of which is expected to commence from mid-August.

Overall, the automotive and logistics sectors saw mixed results, with some areas declining and others seeing gains. The data provides a snapshot of current market conditions and future prospects, which are influenced by seasonal and political factors.