New Delhi: The July 2024 edition of the Shriram Mobility Bulletin, released today, provides data on the automobile and logistics sector. Motor car sales declined by 9%, and fuel consumption for petrol and diesel dropped by 5% in June 2024. However, year-over-year fuel consumption increased by 4% for petrol and 1% for diesel. Truck rentals fell by 2.6% on the Mumbai-Kolkata-Mumbai route but rose by 4.1% on the Kolkata-Guwahati-Kolkata route. Sales of used commercial vehicles grew year-over-year, with a 7% rise for 7.5 to 16-ton capacity vehicles and a 43% rise for 31 to 36-ton capacity vehicles, the company said in its press release.
FASTag toll collections increased by 2% in volume and 7% in value on a year-over-year basis. Additionally, e-way bill generation showed a month-over-month increase of 8% for intra-state and 5% for inter-state transactions in May.
YS Chakravarti, MD & CEO of Shriram Finance Ltd., commented on the June 2024 Mobility Bulletin, stating, “With the new government in place and with monsoon rain expected to gain strength, businesses are hopeful that policy action from the government will help push economic activity into a higher orbit. The slowdown across sectors including road transport, vehicle sales appears temporary.”
Shriram Finance Limited also sees potential growth in sales of Agricultural, Trailer, and Commercial Tractors with the ongoing Kharif season heading towards harvest by mid-August.
Overall, the automotive and logistics sectors experienced a mixed performance with some areas showing declines and others exhibiting growth. The data provides a snapshot of the current market conditions and future outlook influenced by seasonal and policy factors.
