Shriram Finance’s October 2026 Mobility Bulletin points to firm mobility activity in September, with growth across several vehicle categories, higher electric vehicle sales and year-on-year increases in truck rentals.
The bulletin shows 18-tonne truck round-trip rentals increased year on year across all listed routes, while September retail sales of goods carriers, passenger vehicles, two-wheelers and construction equipment also remained higher than a year earlier.
Electric vehicle sales also recorded strong year-on-year growth in September. Pure electric two-wheeler sales rose 111 percent to 198,873 units, while electric three-wheelers increased 113 percent to 58,592 units. Electric motor car sales grew 143 percent to 32,743 units.
Truck Rentals Rise Across Major Routes
Round-trip rentals for 18-tonne payload trucks increased year on year across all 10 routes tracked in the bulletin. The Delhi-Mumbai-Delhi route recorded a 9 percent increase to Rs 177,000, while Bengaluru-Mumbai-Bengaluru rentals rose 11 percent to Rs 152,000.
Delhi-Kolkata-Delhi recorded the highest year-on-year increase among the listed Delhi routes at 13 percent. Bengaluru-Kolkata-Bengaluru rose 6 percent, while Mumbai-Chennai-Mumbai and Mumbai-Kolkata-Mumbai increased 7 percent and 4 percent, respectively.
On a month-on-month basis, most routes were broadly stable, with increases ranging from 0.5 percent to 1.3 percent where changes were recorded.
Goods Carriers, Cars And Two-Wheelers Post Double-Digit Growth
September retail sales of goods carriers reached 87,100 units, up 40 percent year on year and 13 percent from August. Three-wheelers for goods applications rose 63 percent year on year to 16,457 units.
Motor car retail sales increased 31 percent year on year to 389,190 units, while motorcycle and scooter sales rose 33 percent to 1.74 million units. Construction equipment vehicle sales increased 25 percent to 640 units, while earth-moving equipment sales grew 19 percent to 469 units.
Agricultural tractor sales rose 14 percent year on year to 70,140 units, although they declined 15 percent month on month. Commercial tractors fell 22 percent from August but remained 7 percent above September 2025. Bus sales increased 19 percent year on year to 6,577 units.
EV Sales Continue To Grow
Pure electric vehicle sales increased across all three categories tracked by the bulletin in September. Electric two-wheelers rose 13 percent month on month and 111 percent year on year, while electric three-wheelers increased 8 percent month on month and 113 percent year on year.
Electric motor car sales increased 12 percent from August and 143 percent year on year.
FASTag Collections Decline Sequentially
FASTag transaction volume fell 3.9 percent month on month in September to 337.38 million, while transaction value declined 1.2 percent to Rs 7,096.35 crore. Compared with September 2025, volume was up 1 percent and value increased 11 percent.
The bulletin also reports September petrol consumption at 3.64 million tonnes, down 5 percent month on month but up 7.2 percent year on year. Diesel consumption increased 2 percent month on month to 7.12 million tonnes and was 4.9 percent higher year on year.
Shriram Finance Joint Managing Director and COO – Commercial Vehicles Sudarshan Holla said firm truck rentals, festive dispatches, two-wheeler demand, EV adoption and heavy-duty truck and construction equipment sales pointed to continued activity in commercial vehicles and core sectors. He also noted that a potential interest-rate increase during the festive season could weigh on sentiment.