Truck rentals remain flat despite strong consumer vehicle sales, with geopolitical tensions and weather disrupting logistics operations.
05 Feb 2026 | 244 Views | By Shristi Ohri
India's freight and logistics sector experienced stagnant activity in January 2026, even as consumer mobility continued its upward trajectory with robust growth in passenger vehicles and two-wheelers, according to the latest Shriram Mobility Bulletin.
Truck rental rates across major routes remained largely unchanged from December 2025, with most key ...
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India's freight and logistics sector experienced stagnant activity in January 2026, even as consumer mobility continued its upward trajectory with robust growth in passenger vehicles and two-wheelers, according to the latest Shriram Mobility Bulletin.
Truck rental rates across major routes remained largely unchanged from December 2025, with most key corridors showing zero month-on-month growth. The Delhi-Mumbai-Delhi route held steady at ₹1,68,000, while the Delhi-Kolkata-Delhi route saw a marginal 1.2% increase to ₹1,67,000. This follows a strong pickup in the previous quarter, indicating a cooling off in freight movement.
"Following the announcement of the Indo-US trade pact, we expect vehicular movement to pick up across key export hubs and ports," said Sudarshan Holla, Joint Managing Director and COO of Commercial Vehicles at Shriram Finance. He noted that rising temperatures should restore normal logistics activity in the Himalayan region, where heavy snowfall had stranded many trucks during the month.
However, challenges persist. Transport operators have flagged ongoing disruptions to goods movement due to geopolitical tensions along the Indo-Bangladesh border, which continue to restrict trucking activity in the region.
Despite the sluggish freight sector, consumer mobility showed remarkable strength. Motor car retail sales surged 37% month-on-month to 4,87,891 units in January, while motorcycle and scooter sales jumped 45% to 18,60,413 units. Year-on-year comparisons also remained positive, with cars up 11% and two-wheelers up 25% compared to January 2025.
The electric vehicle segment continued its impressive growth trajectory. E-two-wheeler sales climbed 26% month-on-month to 1,11,817 units, marking a 45% year-on-year increase. E-three-wheelers recorded explosive growth of 338% compared to January 2025, reaching 35,498 units, driven largely by demand in urban commuting and last-mile delivery segments.
Goods carrier registrations rose 37% month-on-month to 97,306 units, suggesting continued investment in commercial vehicles despite the current softness in freight rates. Three-wheeler goods vehicles also saw a 33% monthly increase.
Fuel consumption patterns reflected the mixed mobility picture. Petrol consumption declined 1% month-on-month to 3.49 million tonnes, while diesel consumption dropped 6% to 7.98 million tonnes. However, both fuels showed year-on-year growth of 5.6% and 3% respectively.
FASTag collections, which serve as a proxy for highway traffic, remained nearly flat in volume terms at 373.41 million transactions, but values increased 1.1% to ₹7,232.19 crore, indicating higher average transaction values.
As the transport sector enters its peak quarter, industry observers expect overall normalcy to return once weather conditions improve and cross-border issues are resolved.