October Surge: India’s Mobility Ecosystem Thrives on Festive Momentum
The October Shriram Mobility Bulletin indicates a robust recovery in India's mobility sector, buoyed by festive consumption and strong EV adoption. Vehicle sales and truck rentals experienced notable growth, while e-way bills signaled vibrant goods movement. Shriram Finance is poised for continued momentum amidst this positive trend.
- Country:
- India
In a remarkable turn of events, the October edition of the Shriram Mobility Bulletin highlights a significant resurgence in India's mobility sector. This resurgence is primarily driven by robust festive consumption, increased rural freight activities, and a surge in electric vehicle adoption, signaling a promising outlook for the country's logistical dynamics.
Fueling the mobility revival, truck rentals demonstrated resilience, with notable increases along key routes. The Delhi-Mumbai-Delhi corridor alone witnessed a 1.9% month-on-month rise. Meanwhile, petrol consumption surged by 8%, thanks to festive travel, while diesel consumption exhibited mixed trends amid declining agricultural demand.
The buoyant atmosphere extended to vehicle sales, with significant month-on-month gains across categories, including a staggering 144% increase in two-wheeler sales. Electric vehicles set new records, particularly in e-2 wheelers and e-3 wheelers, reflecting an ongoing shift towards sustainable transport solutions. Shriram Finance remains optimistic about sustaining this momentum, despite anticipating a potential moderation in demand.
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