Excellent movement of agriculture goods
India: Truck rentals up 9 percent
Truck rentals on the trunk routes saw an increase of 9% in January and February 2018 on the back of a massive diversion of trucks towards infrastructure projects, increases in diesel price, an uptick in manufacturing activity and stronger movement of various agri products across the country.
According to financialexpress.com, the Indian Foundation of Transport Research and Training pointed out that part of the increase in rentals has been due to an increase in diesel prices over the last few weeks. In addition to this, domestic tyre manufacturers jacked up truck tyre prices, capitalising on the increase in import duty on tyres imported from China.
This foundation also stated that the unprecedented discounts (ranging between 12% and 20%) offered by truck dealers, coupled with improved business activities, had created demand for high tonnage capacity trucks.
Publication date: 3/8/2018
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