Truck rentals have slumped by three to four per cent during May. This is the second consecutive month in this fiscal that rentals have dropped. The drop is attributed to more than 10 per cent decline in dispatches from the manufacturing sector.
According to a report by the Indian Foundation of Transport Research and Training (IFTRT), “the increase in compensatory load from wheat procurement and increased arrival of mango and other summer fruit and vegetable crops have not been enough to stem the decline” in rentals.
“In the present circumstances, there seems to be very little hope that truck rentals will recover before September 2012,” IFTRT predicts.