February 22, 2024

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Truck rentals surge 13% in 6 wks on fuel, tyre costs, Auto News, ET Auto

Transporters are passing on both the fuel and the tyre cost to customers through higher rentals.
Transporters are passing on each the gasoline and the tyre price to customers through increased rentals.

Chennai: Soaring gasoline and tyre costs, coupled with an improvement in cargo availability, have resulted in a sharp boost in truck rentals in the final six months. According to S P Singh, senior fellow and coordinator at the Indian Foundation of Transportation Analysis & Instruction (IFTRT), amongst January and February sixteen, truck rentals on trunk routes have absent up by 12-thirteen%. 50 percent of that hike arrived in the final fortnight by itself.

Transporters say, apart from the gasoline value boost, what has also pinched truckers is the increase in tyre costs. With tyre providers withdrawing reductions, purchasing a pair is now costlier by Rs three,000-three,500 stated Singh. Transporters are passing on each the gasoline and the tyre price to customers through increased rentals.

“Vegetables, fruits and food stuff things have been travelling for a longer time distances for the reason that it is winter. There has been a 30-40% boost in things travelling to the APMCs,” stated Singh. “There is also enhanced cargo from car providers, buyer strong makers and FMCG providers. So, transporters come to feel they can pass on the gasoline value pinch on the rentals,” he included. FMCG cargo has absent up by 5-six% and cement & steel by 5-ten%, stated transporters.

The Delhi-Mumbai-Delhi trunk route costs, for case in point, have absent from an typical of Rs 86,400 in January-December of 2019 to Rs 1,eighteen,two hundred as on January 1, 2021, and then to Rs 1,25,300 on February 1, and further more to Rs 1,31,000 on February sixteen, stated Singh. Similarly, the Delhi-Chennai-Delhi route has enhanced from an typical of Rs 1,seventeen,900 in January-December 2019 to Rs 1,27,seven-hundred on January 1 this yr, then Rs 1,37,900 on February 1 and all over Rs 1,44,000 on February sixteen.

Truck rentals surge 13% in 6 wks on fuel, tyre costs