Mumbai, October 6, 2026: India’s transportation sector showed continued strength in September, with truck rentals holding steady on major trunk routes amid festive dispatches and retail vehicle sales rising across most categories, according to the October 2026 edition of the Shriram Mobility Bulletin.
The report noted that month-on-month, the Bengaluru-Mumbai-Bengaluru route saw the highest increase in truck rentals at 1.3%, followed by Delhi-Mumbai-Delhi at 1.1% and Delhi-Hyderabad-Delhi at 1%. Rentals on Delhi-Bengaluru-Delhi and Bengaluru-Kolkata-Bengaluru rose marginally, while other routes remained unchanged.
Year-on-year rental growth across routes
On a year-on-year basis, all key trunk routes tracked by Shriram Finance recorded higher rentals. Delhi-Kolkata-Delhi led with a 13% increase, followed by Bengaluru-Mumbai-Bengaluru at 11% and Kolkata-Guwahati-Kolkata at 10%. Other routes posted gains ranging from 4% to 9% over the previous year.
Vehicle sales trends in September
Sequential growth in retail vehicle sales was led by core sector segments. Construction equipment sales rose 31% month-on-month, earth-moving equipment increased by 17%, and goods carriers by 13%. Motorcycles and scooters, as well as motor cars, each grew by 4%. However, agricultural tractor sales declined by 15% and commercial tractors by 22%.
Year-on-year, maxi cab sales surged 75%, three-wheeler goods vehicles rose 63%, and goods carriers increased by 40%. Motorcycles and scooters grew 33%, motor cars by 31%, construction equipment by 25%, and earth-moving equipment by 19%. Agricultural trailers were the only segment to see a year-on-year decline, down 27%.
Electric vehicle sales accelerate
Electric vehicle (EV) sales continued to expand rapidly. E-two-wheeler sales rose 13% month-on-month, e-three-wheelers by 8%, and electric cars by 12%. Compared to the previous year, electric car sales jumped 143%, e-three-wheelers 113%, and e-two-wheelers 111%, reflecting the accelerating adoption of electric mobility in India.
“Firm truck rentals amid festive dispatches, strong two-wheeler demand, accelerating EV adoption, and healthy sales of heavy-duty trucks and construction equipment all point to resilient economic activity,” said Sudarshan Holla, Joint Managing Director & Chief Operating Officer, Commercial Vehicles, Shriram Finance. He added that robust commercial vehicle and construction equipment sales indicate continued momentum in infrastructure and core sectors, though potential interest rate increases during the festive season could dampen sentiment.
Fuel consumption and FASTag collections
Fuel consumption trends were mixed in September. Petrol consumption declined 5% month-on-month, while diesel consumption rose 2%. Year-on-year, petrol and diesel consumption increased by 7.2% and 4.9%, respectively.
FASTag collections eased during the month, with volumes down 3.9% and value down 1.2% sequentially. However, compared to the previous year, collection volumes were up 1% and value increased by 11%.
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