A more than 20 per cent decline in cargo in November resulted in fall of truck rentals.
According to a report by the Indian Foundation of Transport Research and Training (IFTRT), brisk cargo offerings dragged truck rentals by 4-5 per cent on trunk (long-distance) routes during the second half the month. This led to a erosion of nearly four per cent gains realised through higher rentals during the previous month of October, the report added.
Truck sales: Meanwhile, a drop in the multi-axle truck sales saw the industry witness a 33 per cent decline in sales during November. Multi-axle truck sales declined by over 50 per cent to 5,526 units in November this year compared to the same period last year.