37
/
3
Min Read
India’s mobility and logistics sector witnessed relatively subdued activity in February 2026, with truck rentals across major trunk routes remaining largely stable on a month-on-month basis. The insights were highlighted in the latest Shriram Mobility Bulletin released by Shriram Finance Limited.
While sequential movement remained flat, several key corridors recorded year-on-year growth. The Delhi–Mumbai–Delhi route saw an 8% increase in truck rentals, while the Delhi–Kolkata–Delhi and Mumbai–Chennai–Mumbai routes each recorded a 6% rise compared with the same period last year. Similarly, the Bengaluru–Mumbai–Bengaluru corridor posted a 5% growth and the Guwahati–Mumbai–Guwahati route registered a 4% increase year-on-year.
Vehicle sales across most categories moderated on a month-on-month basis in February, which is considered a typical seasonal trend. Passenger vehicle sales declined by 28%, while two-wheeler sales dropped by 8%. The report attributes part of the slowdown to customers postponing purchases in anticipation of promotional offers expected during upcoming festivals such as Gudi Padwa and Ugadi in March.
However, some segments recorded strong growth. Bus sales increased by 34% and maxi cab sales rose by 21% month-on-month, indicating sustained demand in passenger mobility and institutional transportation. On a year-on-year basis, goods carrier and three-wheeler goods vehicle sales grew by 32%, commercial tractor sales expanded by 33%, and maxi cab sales increased by 35%.
The electric vehicle segment showed mixed trends. Although EV sales declined sequentially during the month, the year-on-year figures remained strong. Electric two-wheelers recorded a 66% increase, electric three-wheelers surged by 246%, and electric cars rose by 116% compared with February 2025. The bulletin attributes this growth to rising urban commuting demand and the continued expansion of last-mile delivery fleets in cities.
Other logistics indicators also reflected some softness. FASTag transaction volumes fell by 26.1% and value declined by 25.1%, while petrol and diesel consumption dropped by around 4% in February. Seasonal factors and cautious freight movement across certain trade routes were cited as key reasons for the moderation.
Looking ahead, the bulletin expects the Rabi harvest season to increase the movement of agricultural produce, which could support an improvement in truck rentals during March 2026. The upcoming Kharif sowing season is also expected to boost demand for agricultural equipment. However, a potential rise in fuel prices has been highlighted as a risk factor that could impact freight margins.
The Shriram Mobility Bulletin is a monthly report published by Shriram Finance Limited, one of India’s largest retail asset financing NBFCs with assets under management exceeding ₹2.91 trillion. The bulletin tracks trends in the logistics and automobile sectors using insights from the company’s nationwide network of fleet owners and vehicle dealers.
