India’s mobility and logistics sector is showing early signs of recovery ahead of the upcoming festive season, according to the September edition of the Shriram Mobility Bulletin. Truck rentals have strengthened on key trunk routes, digital toll collections have risen, and electric vehicle adoption continues to gain momentum, even as weather-related disruptions in northern states have impacted overall trucking activity.
Truck Rentals and Freight Movement:
Truck rentals have firmed on major routes in preparation for increased consumer demand during the festival period. Month-on-month (MoM) growth was recorded at 1.5% on Bengaluru-Mumbai-Bengaluru routes, 1.3% on Delhi-Kolkata-Delhi, and 1.1% on Guwahati-Mumbai-Guwahati. However, heavy rains in Punjab, Himachal Pradesh, and Uttarakhand affected truck availability and disrupted goods movement.
Vehicle Sales Performance:
Retail sales across vehicle categories showed a mixed performance in August 2025. Earthmoving equipment sales rose 7% MoM, reflecting renewed infrastructure activity post-monsoon. Goods carriers increased 2%, and agricultural trailers saw a 4% uptick, driven by the Kharif harvest.
Conversely, passenger car sales declined by 3%, two-wheeler sales grew modestly by 1%, while tractor sales plummeted 29%. Maxi cabs and e-rickshaw carts also fell 14% and 9%, respectively, indicating cautious buyer sentiment. Analysts expect vehicle sales to pick up in the coming months with GST rate revisions and the festive season boosting consumer confidence.
Electric Vehicle Segment:
Electric vehicles (EVs) maintained strong growth momentum. Electric four-wheelers recorded a 14% MoM rise, while E-2 wheelers grew 1%, and E-3 wheelers dipped 3%. The data underscores a steady increase in urban EV adoption despite slower performance in other segments.
FASTag Collections and Fuel Consumption:
FASTag usage remained robust, with transaction volumes rising 3.1% MoM to 381.96 million and total value increasing 5.8% MoM to ₹7,052.91 crore. Petrol consumption edged up 1% MoM to 3.53 MT, while diesel sales fell 11% MoM to 6.56 MT, reflecting reduced fleet movement due to weather-related disruptions.
Industry Perspective:
Mr Y S Chakravarti, CEO and Managing Director of Shriram Finance Ltd, said, “Truck rentals remained steady to firm with manufacturers moving goods to commercial hubs in preparation for the festive season. Early indications from Kerala suggest strong Onam consumption, which is a positive sign. However, some export hubs face stagnation due to U.S. import tariffs.”
The Shriram Mobility Bulletin suggests that the combined effects of easing GST rates, festive demand, and recovery in freight activity are expected to support a gradual revival across India’s mobility sector in the coming months.
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