Truck fleet demand, utility down: Think tank report

21 Apr 2021 Editorial Team

As the second wave of Covid-19 makes its way into the country, affecting various industrial sectors severely, truck rentals have now plunged beyond expectation.

According to a report by the transport sector think tank Indian Foundation of Transport Research and Training (IFTRT), fleet utilisation is down to 60%. Given the emerging trend of truck drivers preparing to return to their hometowns or villages to escape the new wave of coronavirus, the situation for trade, commerce and industry are grim, leading to panic in the transport business. Ashok Leyland, Eicher, and M&M are down 2-4%.

The IFTRT report states that the new wave of Covid has led to a decline in the arrival of food and vegetable items at the mandis (Agriculture Produce Market Committees or APMC).

APMCs were set up by the state governments to ensure good price discovery for farmers and to prevent retailers from having an undue bargaining advantage.

The new wave has led to a 10-15% drop in demand from restaurants and hotels. Dispatches from factory gates also dropped lower by a similar 10-15%.

The worst hit was production in Micro Small and Medium Enterprises (MSME), although diesel and tyre prices have remained unchanged from March 2021.

If the situation remains dull, it will affect the payment of EMI on truck purchase loans. Truck rentals might see unions demand yet another moratorium.

Round trip rentals for 18-20 tonne payload trucks:

Delhi-Mumbai-Delhi: down 16%
Delhi–Nagpur–Delhi: down 10%
Delhi-Ranchi-Delhi: down 15%
Delhi-Chennai-Delhi: down 13%
Delhi-Kandla-Delhi: down 15%

Image Source

Also read: Container prices in India and China surge: Container xChange report

Infrastructure Energy

22 Oct 2025

KEC Secures Rs 10, 380 Mn Substation Order in Saudi Arabia

KEC International Ltd., a global infrastructure EPC major, and an RPG Group company, has secured a new order worth Rs 10,380 million for the Design, Supply and Installation of a 380 kV GIS Substation in Saudi Arabia.Vimal Kejriwal, MD & CEO, KEC International Ltd., commented, “We are delighted with the successive order wins in our T&D business. In a landmark achievement, we have secured our largest ever substation order. This prestigious order in the Middle East has widened our portfolio and strengthened our presence in the region. With this strategic win, our year-to-date or..

Central Bank of India executes first fully digital SCF deal on PSB Xchange

In a major advancement for India’s banking sector, Central Bank of India (CBI) has successfully completed the country’s first fully digital supply chain finance (SCF) transaction on PSB Xchange—a unified multi-lender platform launched by PSB Alliance. PSB Xchange is designed to connect public and private sector banks, NBFCs, and fintechs with corporates and their channel partners to facilitate supply chain finance and small business loans. The transaction marks the first time a fintech-originated corporate lead has been seamlessly processed through the PSB Xchange ecosystem. The lead fl..

Atlanta Electricals secures Rs 1,835 Mn transformer order from BNC Power

Atlanta Electricals Limited (“Atlanta”) has secured an order worth Rs 1,835 million from BNC Power Projects Ltd for the supply of extra high voltage (EHV) transformers and a bus reactor for its Pugal site. The contract includes a mix of 315 MVA, 400 KV and 100 MVA, 132 KV transformers along with a 400 KV bus reactor. The project scope encompasses design, manufacturing, testing, and supply to the project site. Deliveries will be sequenced following engineering and drawing approvals, offering multi-quarter execution visibility and ensuring a steady production run-rate. The order will be ex..