Truck rentals up 5% on rise in diesel price

By: | Published: September 4, 2018 12:23 AM

The truck rentals on the main trunk routes recovered smartly and retail parcel freight charges were up 5% in last two weeks due to the Rs 1.30 a litre increase in diesel price coupled with soft surveillance of e-way bill digital transit pass system.

Truck rentals up 5% on rise in diesel price

The truck rentals on the main trunk routes recovered smartly and retail parcel freight charges were up 5% in the last two weeks due to the Rs 1.30-a-litre increase in diesel price coupled with soft surveillance of e-way bill digital transit pass system and a 10% increase in cargo offerings in the form of fruits, vehicles, food items and general merchandise as consumer spending and consumption went up significantly in cities.

The truck rentals, for instance, gone up for full truck load (FTL- 25.2 GVW capacity) on Delhi- Mumbai- Delhi full-round trip from Rs 86,500 to Rs 90,900 (5.1% growth) , Delhi- Kolkata- Delhi route from Rs 82, 600 to Rs 86,700 (an increase of 5%), Delhi-Raipur-Delhi from `79,000 to `82,100 (+4% ) and Delhi-Kandla-Delhi from `84,000 to `87,200 (+ 4.1%) and on Delhi-Chennai-Delhi full-round trip truck rental up from `1,20,300 to `1,26,400 (+ 5%), said Indian Foundation of Transport Research and Training ( IFTRT), the apex body that is tracking the truck industry.

Interestingly, the 18-25% upward revision in maximum axle load limit leading to increase in GVW for HCVs had no adverse impact on freight charges as was being feared by certain quarters. Nevertheless, fleet owners have put some mixed response among truckers on new purchases of goods carriages to experience the full enforcement of new axle load rules across the country. Still, CV sales as per interim reports are in double-digit number during August 18.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition